Kroll, the world’s premier provider of services and digital products related to governance, risk and transparency, today reveals the number of data breaches reported to the FCA fell by 30% between 2019-2020. This is a direct contradiction to Kroll’s own data which, looking at all industries, showed a 56% average rise in incidents over the same timeframe, with the financial services industry being slightly above that average.
Freedom of Information data obtained by Kroll from the FCA shows that the number of reportable cyber incidents where company or personal data was potentially compromised or breached dropped 30% to 76 in 2020, compared to 108 during the same time period in 2019 (Figure 1).
In reality, the number of data breaches is expected to be far higher, with Kroll’s proprietary data showing that during the same period the overall number of incidents impacting UK organisations rose 56%, leading to an increase in consumer notifications of more than 41% when compared to 2019.
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