© Copyright Acquisition International 2026 - All Rights Reserved.

Article Image - Financial Data Breaches: ICO Reports 8,000 Percent Rise
Posted 7th May 2024

Financial Data Breaches: ICO Reports 8,000 Percent Rise

According to the Information Commissioner’s Office (ICO), there was an 8,000 percent increase in the number of people affected by financial data breaches in central government between 2019 and 2023.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Financial Data Breaches: ICO Reports 8,000 Percent Rise
Financial breach

Third-party IT consultants can implement cyber security solutions that enable 360-degree visibility and 24×7 tactical coverage

AJ Thompson, CCO at Northdoor plc

According to the Information Commissioner’s Office (ICO), there was an 8,000 percent increase in the number of people affected by financial data breaches in central government between 2019 and 2023.

The figures suggest that there might be a crisis in data security in central government, following a spate of massive cyber breaches. The figures derive from reports of ‘personal data breaches’ (PDBs) made under Article 33 of the UK GDPR to the ICO.

Tougher enforcement is key in the public sector

The worrying figures were part of a Freedom of Information (FOI) request by the ICO and were not actively published. There also doesn’t seem to be any explanation around the seriousness of the issue or how it is being dealt with.

Even though not every PDB is serious enough to require action, there will be a lot of near misses. With the figures showing a massive increase in the number of people impacted between 2019 and 2023 and a noticeable upturn between 2022 and 2023 (from 70 million to 195 million), this shows a pressing need for the ICO to consider if there needs to be tougher enforcement in the public sector instead of pursuing its current “soft” approach.

The ICO has confirmed that it is looking into a review regarding its approach to enforcement in the public sector, after the two-year, softer approach trial. However, it hasn’t revealed if the increase in central government data breaches requires action.

Widely reported ICO incidents

With data breaches on the rise, government bodies must do more to improve cybersecurity. It is vital that there are robust protections in place to secure the data and the information held within it. Public sector staff also need to have the knowledge and training to handle such data securely. However, all too often this doesn’t happen.

The risk of a security breach has become an increasing reality for local government in the UK. For example, Sefton Council experienced 50 percent more cyber-attacks every month, a figure in line with a global increase in incidents, according to a new report.

Sefton council found that it was being targeted for the security of its IT infrastructure. The council admitted that significant work needs to be done to prevent future attacks. Third-party IT consultants can help local government to implement new security practices and tools and ensure that council staff, who are the last line of defence, are trained to recognise a potential attack and deal with it appropriately.

 Similarly, Bristol City Council is also at an increased risk of a cyberattack due to delayed critical IT updates. Legacy software is a huge risk to local government and a key target for cyber-attacks.

The Gloucester City Council cyber-attack is also a reminder to all local governments across the UK, just how vulnerable everyday services are. Russian-based hackers, who were believed to be responsible for the attack in December 2021, disrupted numerous services for thousands of residents: including benefit payments, planning applications and house sales, as well as councillors being blocked from emailing other organisations. The council had to rebuild all of its servers as a result of the attack and the latest estimate suggests the bill to the taxpayer stands at just under £800,000.

Transparency is crucial

Cybercriminals are becoming more and more sophisticated. However, this shouldn’t let local government departments off the hook. If they have done everything in their power to protect data and have robust security processes and procedures in place, it is unlikely that they would be successfully fined by the ICO.

All too often, people are unaware that their data has been compromised until they hear that their local government department has been fined. Under GDPR organisations must tell you if your data has been compromised and local government needs to work harder to adhere to the regulations, with the ICO being more transparent around all incidents.

Third-party IT consultants can help

Local governments need to ensure strong security procedures are in place to minimise the threat of cybersecurity breaches. Third-party IT consultants can help them to implement cyber security solutions that enables broad visibility and works seamlessly with existing technology stacks. Using Managed Detection and Response (MDR), Managed Risk, Managed Cloud Monitoring, and Managed Security Awareness, all supported by third-party IT support.

Third-party IT consultants can provide 24×7 tactical coverage and ongoing strategic security recommendations, acting as an extension of an organisation’s internal team to improve its security posture. By turning to AI-powered solutions, local governments can have a 360-degree view of where potential vulnerabilities might lie. This ensures that data is protected from cybercriminals, whilst maintaining reputation and decreasing the risk of an ICO fine.

Categories: Finance, Legal, News


You Might Also Like
Read Full PostRead - Eye Icon
Be Direct and Know Your Worth
Finance
26/06/2017Be Direct and Know Your Worth

Atomic Weapons Establishment (AWE) plays a crucial role in the UK’s national defence. They have been at the forefront of the UK nuclear deterrence programme for more than 60 years. Supporting the UK’s Continuous at Sea Deterrence programme and national nuc

Read Full PostRead - Eye Icon
Why Should Businesses Switch To Solar Energy
Innovation
06/04/2023Why Should Businesses Switch To Solar Energy

Electricity is a critical resource for companies to power their machines and equipment. However, with the rising cost of electricity, many businesses are seeking ways to reduce their energy expenses.

Read Full PostRead - Eye Icon
What to Do After a Workplace Injury
Legal
22/04/2022What to Do After a Workplace Injury

Following an injury at your workplace, you have the right to workers' compensation benefits to cater for your medical bill, lost wages, and possible disability. Nevertheless, it's challenging to know what to do when you're ill or injured.

Read Full PostRead - Eye Icon
Three Decades of Infallible, High-End Technology Solutions
Leadership
10/11/2025Three Decades of Infallible, High-End Technology Solutions

From its home in Virginia, Open Systems Technologies (OST) Corporation has been providing its signature brand of customized, top-of-the-line security solutions to large enterprises since opening its doors back in 1996. Guided by a combination of experience and

Read Full PostRead - Eye Icon
The Complete List of ERP Modules and How They Help Businesses
Innovation
12/10/2022The Complete List of ERP Modules and How They Help Businesses

When you run a small or enterprise-level business, you face many daily challenges to ensure that it operates smoothly and efficiently. With larger organisations, you can delegate some of your responsibilities. However, the buck will often stop with you, so you

Read Full PostRead - Eye Icon
Things to Consider While Choosing a Business Broker
News
15/03/2022Things to Consider While Choosing a Business Broker

Selling your business is a once in a blue moon opportunity you cannot miss, and finding the appropriate business broker is critical to a smooth transaction. In most cases, a high-priced sale of one’s small business is a long-time goal for many business owner

Read Full PostRead - Eye Icon
Your Industrial Start up Can Keep Cost Low by Recognising Quality Used Equipment
Innovation
15/09/2022Your Industrial Start up Can Keep Cost Low by Recognising Quality Used Equipment

Industrial start ups have some of the highest initial capital requirements of any business. The most significant part of the start up capital will be for purchasing equipment. You can spend less money by choosing to buy quality but used equipment. It will save

Read Full PostRead - Eye Icon
Can You Buy Shares Of A Company Online From The Uk?
News
10/10/2022Can You Buy Shares Of A Company Online From The Uk?

You've certainly daydreamed more than once about how you'll invest in a firm, retire well, and see the globe. The accomplishment of this is not a simple task, but one has to begin somewhere. To get started in the world of investing, you don't have to need a la

Read Full PostRead - Eye Icon
How to Securely Invest in Businesses That Do Well During a Pandemic
Finance
21/07/2021How to Securely Invest in Businesses That Do Well During a Pandemic

The Covid-19 pandemic has caused immeasurable harm to businesses. However, there are some that are thriving. Find out where best to invest now.



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have a number of unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow