A recent survey by the Bank of England revealed that cyber-attacks were the joint second most cited risk to the stability of the UK financial system. The proportion of respondents that named cyber-attacks increased for the third consecutive survey to a new record high of 62 per cent – an increase of five percent.  

Furthermore, an increase of five per cent listed cyber-attack as the risk most challenging to manage, according to Bank of England – Systemic Risk Survey Results – 2018 H1¹  

Against this background of increased threats to cybersecurity, and continually strengthening legislation concerning data security, it is no surprise that IT security has become a high priority for organisations.  

Cyber threats have evolved to become more sophisticated, often originating from well-organised groups – state-sponsored or criminal networks – who target businesses or individuals connected to businesses for valuable information.