© Financial Conduct Authority 2017 Find out more Cyber Security Information Sharing Partnership (CiSP) www.ncsc.gov.uk/cisp CiSP is a secure joint industry and Government initiative for exchanging cyber-threat information. Membership gives you full access to the UK Financial Services Cyber Incident Response Framework and provides you with vital threat information. 10 steps to cyber security www.ncsc.gov.uk/guidance/10-steps-cyber-security The National Cyber Security Centre’s website gives further advice on how to protect your �rm from a range of cyber and information security threats. FCA Cyber resilience webpage www.fca.org.uk/firms/cyber-resilience Our website has further guidance on cyber security and we will keep this up to date. Cyber incident response – what should you do? How to report a cyber incident 1 If you judge a cyber incident to be material, report it as follows: • Fixed �rms should contact their named FCA supervisors, and �exible �rms should call 0300 500 0597 or email fi[email protected] • If your �rm is dual-regulated, you should also contact the Prudential Regulation Authority • If the incident is criminal, you should contact Action Fraud by calling 0300 123 2040 or through their website • If the incident is a data breach, you may need to report it to the Information Commissioner’s Office 2 Refer to the NCSC guidance on reporting incidents 3 Share on the CiSP platform Reporting a cyber incident Under Principle 11 of the FCA Handbook, you must report material cyber incidents. An incident may be material if it: • results in signi�cant loss of data, or the availability or control of your IT systems • a�ects a large number of customers • results in unauthorised access to, or malicious software present on, your information and communication systems We will update these requirements in line with any future regulations. E�ective cyber security practice Manage the risk: You need to know what information you hold and why you hold it. Is it classi�ed? Do you review who has access to your most sensitive data? Do you understand your vulnerabilities? Disaster recovery: Backup your critical systems and data, and test backup recovery processes regularly. Do you know if you are able to restore services in the event of an attack? Network and computer security: Keep systems, software and apps up-to-date and fully patched. Do you make sure your computer network is con�gured to prevent unauthorised access? Encryption: Protect your sensitive data. Do you use encryption software to protect your critical information from unauthorised access? Accreditation: Gaining a recognised accreditation, such as Cyber Essentials, could improve the security of your �rm. Do you align your �rm to a recognised cyber scheme? User and device credentials: Ensure your sta� use strong passwords when logging on to hardware and software. Change the default Administrator credentials for all devices. Do you use two-factor authentication where the con�dentiality of the data is most crucial? Awareness: People are an integral part of the cyber security chain. Do you educate your sta� on cyber security risks? Information sharing: Sharing threat information with your peers, through networks such as the Cyber Security Information Sharing Partnership (CiSP), is a vital tool in strengthening your cyber defences. Are you a member of any information- sharing arrangements? Cyber attacks are increasing in number, scale and sophistication, and pose a threat to all �nancial services �rms. We expect you to be able to protect the sensitive information you hold. Is your �rm capable of defending itself against cyber attacks? Good cyber security ‒ the foundations In partnership with Cyber threats in the �nancial sector 1. Cyber Security Breaches Survey 2017 2. Malwarebytes: ‘State of Ransomware 2016’ 3. FCA data Since 2014, there has been a 1,700% increase in cyber attacks reported to the FCA 3 of medium/large UK businesses were subjected to cyber attacks in 2016 1 of UK businesses have been hit with ransomware attacks 2 54% 2014 5 2015 27 2016 90 66%
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
© Financial Conduct Authority 2017
Find out moreCyber Security Information Sharing Partnership (CiSP)www.ncsc.gov.uk/cisp
CiSP is a secure joint industry and Government initiative forexchanging cyber-threat information. Membership gives youfull access to the UK Financial Services Cyber Incident ResponseFramework and provides you with vital threat information.
10 steps to cyber securitywww.ncsc.gov.uk/guidance/10-steps-cyber-security
The National Cyber Security Centre’s websitegives further advice on how to protect your�rm from a range of cyber and informationsecurity threats.
FCA Cyber resilience webpagewww.fca.org.uk/firms/cyber-resilience
Our website has further guidance on cybersecurity and we will keep this up to date.
Cyber incident response – what should you do?How to report a cyber incident1 If you judge a cyber incident to be material, report it as follows: • Fixed �rms should contact their named FCA supervisors, and �exible �rms should call 0300 500 0597 or email [email protected] • If your �rm is dual-regulated, you should also contact the Prudential Regulation Authority • If the incident is criminal, you should contact Action Fraud by calling 0300 123 2040 or through their website • If the incident is a data breach, you may need to report it to the Information Commissioner’s Office
2 Refer to the NCSC guidance on reporting incidents3 Share on the CiSP platform
Reporting a cyber incidentUnder Principle 11 of the FCA Handbook, you mustreport material cyber incidents. An incident may be material if it:
• results in signi�cant loss of data, or the availability or control of your IT systems
• a�ects a large number of customers
• results in unauthorised access to, or malicious software present on, your information and communication systems
We will update these requirements in line with anyfuture regulations.
E�ective cyber security practice
Manage the risk:You need to know what information you holdand why you hold it. Is it classi�ed? Do youreview who has access to your most sensitivedata? Do you understand your vulnerabilities?
Disaster recovery:Backup your critical systems and data, and testbackup recovery processes regularly. Do you knowif you are able to restore services in the event ofan attack?
Network and computer security:Keep systems, software and apps up-to-dateand fully patched. Do you make sure your computer network is con�gured to preventunauthorised access?
Encryption:Protect your sensitive data. Do you useencryption software to protect your criticalinformation from unauthorised access?
Accreditation:Gaining a recognised accreditation, such asCyber Essentials, could improve the securityof your �rm. Do you align your �rm to a recognised cyber scheme?
User and device credentials:Ensure your sta� use strong passwords whenlogging on to hardware and software. Change thedefault Administrator credentials for all devices.Do you use two-factor authentication where the con�dentiality of the data is most crucial?
Awareness:People are an integral part of the cyber securitychain. Do you educate your sta� on cybersecurity risks?
Information sharing:Sharing threat information with yourpeers, through networks such as theCyber Security Information SharingPartnership (CiSP), is a vital tool instrengthening your cyber defences.Are you a member of any information-sharing arrangements?
Cyber attacks are increasing in number, scale and sophistication, and pose a threat to all�nancial services �rms. We expect you to be able to protect the sensitive information you hold.Is your �rm capable of defending itself against cyber attacks?
Good cyber security ‒ the foundations
In partnership with
Cyber threats in the �nancial sector
1. Cyber Security Breaches Survey 20172. Malwarebytes: ‘State of Ransomware 2016’3. FCA data
Since 2014, there hasbeen a 1,700% increasein cyber attacks reportedto the FCA3
of medium/large UKbusinesses were subjectedto cyber attacks in 20161
of UK businesseshave been hit with ransomware attacks254%
2014
5
2015
27
2016
90
66%
Related Documents
