UK Regulator speaks out to firms about action needed for ransomware attacks – May 15th 2017

The Financial Conduct Authority (FCA) has advised firms to review the National Cyber Security Centre’s (NCSC) guidance on the recent ransomware attack and to “take appropriate action”. “If your firm has been subject to an attack, please visit Action Fraud [the UK’s National Fraud & Cyber Reporting Centre] or contact them on 0300 123 2040 and let your regulator know through your usual route,” the FCA said in a statement on Saturday. In a recent response given under the Freedom of Information Act, the FCA said three financial service firms had reported ransomware attacks in a recent 12-month period. In the guidance to which the FCA refers, the NCSC has said it is aware of a ransomware campaign relating to version 2 of the “WannaCry” malware affecting a wide range of organisations globally.


Alex Davidson, Regulatory Intelligence