UK and European regulators place a direct obligation on financial technology providers to maintain effective cyber-security controls. Regulators can and do impose fines on companies who are judged to have fallen short of the required standards.<br/><br/>
Aside from the reputational damage, being on the receiving end of a fine can represent an existential threat to the business involved. It is crucial that financial technology providers take the threat of cyber attack seriously and build an effective cyber-security element into their operating model.<br/><br/>
This section explores what steps companies can take to meet their cyber-security obligations.