Data breaches reported to the UK Financial Conduct Authority (FCA) dropped by 30% between 2019 and 2020, the regulator says. This represents a significant discrepancy to proprietary data from Kroll that show actual cyber incidents increased by 56% for the same period. Also, Kroll’s data show that the fintech industry was more prone to be a target of such cyberattack attempts.
A concern here is that organizations may misinterpret the data and underestimate the true risk.
Extra: How do you account for cybersecurity risks in business valuations? See the BVR briefing Cybersecurity in Business Valuation: Addressing the Impact of Data Breaches on Value.
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