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Staying ahead of cyber crime

Staying ahead of cyber crime

How financial services must address this evolving challenge

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Senior Manager, Advisory

KPMG in the Isle of Man

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Staying ahead of cyber crime - illustration of smart phone and desktop screen infographic

In the UK financial sector, cyber security is now only second to political risk as one of the key challenges facing the industry. As crime, extortion, blackmail and fraud move online, cyber crime has become big business, with its global impact exceeding $450 billion a year. 

In this joint report with UK Finance, we explore how greater cooperation both within businesses and between firms, law enforcement and Government is central to tackling the growing threat of cyber crime.

We believe that to be effective in addressing this risk, businesses across all sectors must:

  • Change their approach to a community-based and comprehensive one in order to disrupt the criminal ecosystem;
  • Understand the threat from the perspective of ruthless and rational cyber entrepreneurs;
  • Work together across the financial community, key industries, law enforcement and governments to break the business models of cyber criminals.

You can download the Finance and KPMG report Staying ahead of Cyber Crime here.

© 2018 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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