Practical Cybersecurity Guidance from TheCityUK and Marsh

TheCityUK and Marsh have jointly published a report urging UK financial and related professional services sectors to step up their efforts to address cyber risk. The report (headed "Cyber and the City") suggests that cybersecurity is still not being given the priority it deserves, particularly given the substantial disruption, costs and reputational damage that can flow from a cyber-incident. The threat of cyber-attacks on British companies is growing, with 2.5 million cyber-crimes reported last year in the UK alone.  Alarmingly, the report reveals that only 30% of firms rated cyber threats in the top 10 risks to their business, and only 29% had tried to quantify their cyber exposure.