According to the U.K.’s Financial Conduct Authority, financial services companies in the U.K. experienced a fivefold increase in data breaches for 2018 when compared to 2017, the Financial Times reports. Companies reported 145 breaches for the year, compared to just 25 reported breaches in 2017. The article notes that while the EU General Data Protection Regulation’s breach-reporting requirements are likely to explain part of the increase, bank executives also cite an increased and constant hacking threat. (Registration may be required to access this story.)
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