Financial Conduct Authority  

Number of cyber incidents jumps 1087%

The root causes of cyber incidents reported to the FCA:

Root cause

 

2018 (Jan-Dec)

 

% of incidents

3rd party failure

 

174

 

21%

Hardware/software

 

157

 

19%

Change management

 

146

 

18%

Cyber attack

 

93

 

11%

TBC

 

93

 

11%

Human error

 

47

 

6%

Process/control failure

 

45

 

5%

Capacity management

 

25

 

3%

External factors

 

17

 

2%

Theft

 

11

 

1%

Root cause not found

 

11

 

1%

Total

 

819

 

100%

According to a Freedom of Information (FOI) request submitted by think tank Parliament Street to HMRC last month (June 7) in the past three years taxpayers submitted 2,602,528 reports of phishing via email, phone and other methods to the tax office.

In the 2016/17 tax year the highest number of reports were received by HMRC at 921,900. In 2017/18 there were 782,982 reports and 2018/19 totalled 897,649, an increase of 15 per cent on the previous year.

Phishing emails based on tax rebates were the most popular, with a total of 1,957,003 reports made about them.

amy.austin@ft.com

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