We have published a document bringing together industry insights on cyber resilience. Cyber risks pose a threat to consumers and markets, and part of the FCA’s role is to help firms become more resilient to cyber-attacks, so reducing the risk and frequency of disruption.
Since 2017, the FCA has brought together over 175 firms across different financial sectors to share information and ideas from their cyber experiences. We run these Cyber Coordination Groups (CCGs) with industry to help improve cyber security practices amongst members of the CCGs and their sectors.
Over the last year, the groups have been discussing and sharing practices in the following areas: Governance, Identification, Protection, Detection, Situational Awareness, Response and Recovery, and Testing.
We have collated the examples shared by firms and set out those we consider to be beneficial for a wider audience under each of these themes. We hope the practices and experience of the groups help those firms not already involved when considering where to prioritise their efforts in increasing cyber resilience.
The insights in this publication may be particularly relevant for small and medium-sized firms. However, we encourage all firms to consider whether these insights may be useful to them.