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Telecommunications providers lag others, with 17 percent reporting no cyber insurance

LONDON — 15 August, 2018

Highlights:

  • Just 10 percent of UK executives surveyed say their firm has no cybersecurity insurance, compared to 24 percent in all 11 countries surveyed
  • Telecommunications firms lag other industries, with 17 percent reporting they have no coverage
  • Only 38 percent of UK firms surveyed have cybersecurity insurance that covers all risks
  • Most respondents said their cyber insurance is not based on an accurate assessment of their firm’s individual risk
  • Ovum conducted telephone surveys for FICO of security executives at 500 companies in the UK and 10 other countries

The number of UK firms with cybersecurity insurance has risen in the past year — but less than half say their cyber insurance covers all risks. The second annual cybersecurity survey from research and consultancy firm Ovum, for Silicon Valley analytics firm FICO, found that the number of UK firms reporting they have no cybersecurity insurance dropped from 31 percent in 2017 to 10 percent in 2018. While this is substantially better than the 24 percent reported across all 11 countries surveyed, only 38 percent of UK respondents said their cybersecurity insurance covers all risks.

More information: http://www.fico.com/en/latest-thinking/ebook/united-kingdom-views-from-the-c-suite-survey-2018

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The FICO® Score is the standard measure of consumer credit risk used in more than 25 countries

TORONTO — August 8, 2018

  • FICO extends multi-year agreement with Equifax® Canada to distribute FICO® Scores to lenders, consumers and additional businesses in Canada
  • BEACON Score to be renamed FICO® Score in Canada

Analytics software firm FICO today announced that it has extended a multi-year agreement with Equifax Canada to distribute FICO® Scores to lenders, consumers and additional businesses in Canada. The renewed agreement continues to offer the FICO® Score, previously named BEACON®, to the Canadian market and continues to leverage Equifax mortgage data to enhance predictive power.

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Despite fraud losses rising across Europe, UK achieved first drop in card fraud since 2011

LONDON – 30 July 2018

HIGHLIGHTS:

  • UK losses fell 8 percent due to success battling card not present fraud
  • Total card fraud losses across the 19 European countries studied grew by €30 million, or 2 percent
  • The UK, France and Russia account for 77 percent of card fraud losses in EMEA
  • Interactive online map from FICO and Euromonitor International compares fraud loss trends across the region

Silicon Valley analytic software firm FICO today released its annual interactive map which reveals changes in card fraud across Europe. Based on data from Euromonitor International and UK Finance, the map shows which countries have made significant gains in the fight against payments card fraud in 2017. France and the UK achieved reductions of 6 and 8 percent, respectively, for the biggest reductions in net fraud losses. This is despite losses across the 19 countries surveyed rising by €30 million, or 2 percent.

More information: http://www.fico.com/europeanfraud/

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