MOBILE BANKING UP: Current account customers are predicted to use their mobile devices more than Internet, branch and telephone banking combined by 2020, according to a report released by Britain's banking lobby group.
UK banks still aren’t telling regulators about all the cyberattacks on the financial services industry despite a ten-fold increase in reports to the Financial Conduct Authority over the last four years.
“Our suspicion is that there’s currently a material under-reporting of successful cyber attacks,” Megan Butler, the FCA’s director of supervision, said in a speech Tuesday, according to a copy of her remarks on the regulator’s website. “The number of breaches relayed back to us looks modest when you set it against the number of attacks on the industry.”
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