New research suggests that 59% of financial services firms have been hit by a ransomware or cyber attack in the past 12 months.

The Information Commissioner’s Office (ICO), the data regulator, says financial firms were the most targeted by cyber attackers in 2023.

The Pensions Regulator has called on trustees to help battle cyber-crooks by reporting significant cyber-related incidents as part of updated guidance to tackle the ongoing threat posed by cyber criminals.

Wealth manager and Financial Planner Succession Wealth - recently bought by Aviva for £385m – has been targeted by fraudsters with a cyber attack.