AMI: Now is the time to review cyber security

Ryan Bembridge

June 22, 2017

The Association of Mortgage Intermediaries has urged firms to review cyber security in view of last month’s ransomware attack on the NHS and upcoming data protection regulation.

The body has created a factsheet for its members that sets out areas for firms to review, as well as potential solutions.

Robert Sinclair (pictured), chief executive of AMI, said: “The global spread of the WannaCry ransomware should be a wake-up call for businesses to review their cyber security infrastructure, as no sector or type of firm is immune from attacks.

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“This is particularly relevant considering the implementation of the General Data Protection Regulation next May which requires firms to understand how they hold and process their data, with significant fines for any breaches.

“Our factsheet should be considered a starting point for members, as the National Cyber Security Centre produces extensive guidance for firms on specific areas.

“We are including a regular section on cyber security in our monthly member newsletter in which we will feature a different topic and signpost to relevant guidance.”

AMI said staff at all levels should have a basic understanding of cyber risk in the same way as regulatory risk.

Meanwhile if a cyber breach happens firms should map the steps they will take, such as allocating responsibilities.

How a breach is communicated to staff, those whose data may be compromised, regulators and the press should also be thought about.

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