In March 2019, the FCA published a report on cyber resilience within financial services, based upon work conducted through the regulator’s sector-specific ‘cyber coordination groups’ (CCGs). These groups aim to improve the cyber security practices within the sectors most crucial to the UK economy.

The FCA report provides firms with an outline of cyber resilience best practice, giving them an effective framework within which they can better defend against the increasing threat of cyber crime.

Working with cyber security specialists at Gadhia Consultants and taking onboard the guidance of both the FCA’s CCGs and the National Institute of Standards and Technology (USA), we have outlined an ideal “journey to cyber resilience”.

If your firm is looking to protect its assets, your customers and your reputation, there is no better time to start than right now, and no better place to start than right here.

As you can see, the journey to cyber resilience is never going to be a 'one and done' project. Continued security requires constant monitoring, underpinned by a living strategy that can adapt to emerging threats and risks.

For a deeper exploration of these threats and the tactics that your firm can employ to protect its most important assets, be sure to keep an eye out for our upcoming white paper, Cyber Security – due for release this September.