The EU’s General Data Protection Regulation (GDPR) has had a greater impact on the cyber security practices of financial services organisations than any other sector of the economy, according to new government research.
The Department for Digital, Culture, Media and Sport (DCMS) commissioned a survey last year of more than 1,200 business leaders as part of a package of work aimed at identifying new regulations that could bolster Britain’s cyber defences.
The results, published today (28 August), reveal that the FS sector appears to have been the most strongly influenced by GDPR. Every respondent working in finance and insurance said that all of the changes in their organisation’s cyber security in the last three years were at least to some extent a result of the regulation.
This compared to a cross-industry average of 82 per cent. The arts and entertainment (94 per cent), retail (90 per cent), education (89 per cent), health (89 per cent), and public administration and defence sectors (89 per cent) were the six other industries to have trended significantly above average when it came to the influence of GDPR.
Financial services organisations were also more likely…
