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Guernsey Firms Urged To Safeguard Against Cyber Attacks

by Jason Gorringe, Lowtax.net, London
03 March, 2016

The Guernsey Financial Services Commission (GFSC) has urged firms to take their cyber security responsibilities seriously.

The GFSC has issued a reminder to firms of their obligation to keep the Commission informed of matters involving financial crime and other serious operational problems.

Serious or significant incidents must be reported in a timely manner to the Commission including data loss, financial loss, or denial of service type attacks, whether actual or prevented.

The increasing frequency and sophistication of cyber-attacks means that this is something which requires constant monitoring, the GFSC said, adding that firms not only need to build defensive resilience to such attacks but also need to have the capability to recover quickly from the impact of a successful breach.

The Commission has urged firms to follow the regulatory guidance on cyber security published by the UK Centre for the Protection of National Infrastructure – CERT UK, the UK National Computer Emergency Response Team, and GCHQ.

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