UK Financial Orgs Could Face Cyber Enforcement On 2 Fronts

Law360 (July 29, 2019, 4:46 PM EDT) -- The Financial Conduct Authority recently revealed the number of cyberincidents reported to it had soared by 1086% in 2018. Last year, 819 cyberincidents were reported compared to 68 in 2017, according to a freedom of information request from RSM International.

The increase of reports may seem hefty but the implementation of EU General Data Protection Regulation regime in May 2018 overhauled the entire landscape for reporting cyber-related incidents. There has been a general uptick in reporting of data breaches last year. The Information Commissioner’s Office said there had been a significant increase in reporting both in the period before and after...

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