Massive Surge in Security Breaches of Pensions Prompt Questions

A recent report from RPC has revealed that cybersecurity breaches in UK pension schemes increased by 4,000% from 2021/22 to 2022/23. Understandably, the announcement has raised serious concerns about the efficacy of financial service organization’s cybersecurity programmes. Although the reasons for cyberattacks on financial services are fairly obvious – potential financial gains, troves of sensitive data, and valuable supply chains, to name a few – the dramatic increase in attacks represents a general failure on the part of service providers to protect client data. In this article, we will…