The Financial Conduct Authority received 819 cyber incident reports from financial services last year, 69 more cases than the previous year, ZDNet reports. Retail banks topped the list, reporting 486 cases, wholesale financial markets placed 115 reports, and retail investment firms rounded out the list with 53 incidents. "Third-party failure," hardware and software issues, and change management were the top three reasons for cyber issues. Cyberattacks were the fourth common cause of incidents, with firms reporting 93 attacks in 2018. More than half of the cyberattacks reported were phishing attacks, and 20% were ransomware attacks. The reports were obtained after a freedom-of-information request was submitted by consulting firm RSM.
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