Why Cyber Essential PLUS accreditation is fundamental to your personal data security.

  • 29th December 2021

With government statistics in March 2021 reporting that four in ten businesses (39%) and a quarter of charities (26%) have experienced data breaches or attacks on their systems in the last 12 months, it is more important than ever to protect your personal data.

When you provide data to a business, do you check their credentials to see what policies they have in place for handling your personal data? Many of us probably don’t. We have accounts for groceries and online shopping and then there are loyalty cards, which store information about your shopping habits.

Your personal data becomes even more critical when it comes to financial data. This is one of the biggest prizes for cybercriminals. With more people now working from home or a hybrid of working from home and in the office, data security has become more challenging for businesses to manage.

At Forrester Boyd Wealth Management we believe that a financial advice firm should have the highest level of cyber security accreditation possible to give our client’s peace of mind. You would not put your money in a bank if it did not have the highest levels of data security, so why would you trust any other financial firm if they did not have the same focus on protecting your data?

We would always recommend that you ask about cyber security when considering a new financial adviser. This should be a key part of your due diligence process. Make sure your data and financial future is in safe hands.

How can you ensure your data is protected?

In June 2014, the Government launched a scheme called Cyber Essentials. Initially, it was intended that anyone wanting to provide services to central Government would have to be accredited on the scheme. The scheme soon started to gain traction with other businesses that saw the benefit of the scheme and the recommendations to improve data security. In April 2020, the National Cyber Security Centre (NCSC) appointed IASME as the sole accreditation body for the scheme.

Why we chose Cyber Essentials

Forrester Boyd Wealth Management was investing in new backend technology that would add benefits to its customers, improve and increase efficiencies and improve its data security measures. As part of this transformation, the firm decided to work towards the Cyber Essentials PLUS accreditation at the same time.

Cyber Essentials PLUS is the highest level of certification. This is a rigorous test of an organisation's security systems and processes.

Not only did we adopt this high-level cyber accreditation but we also adopted a number of training programmes for our staff delivered by cyber security experts. This was to raise awareness of the ‘people’ element of cyber risks.

Cyber-attacks have been on the increase, particularly during the pandemic with the likes of the FCA and HMRC issues warnings about various scams, particularly phishing scams.

We see this accreditation as a mandatory process for our firm, which is undertaken annually. We are the gatekeepers of highly sensitive financial information and want to ensure that our clients are reassured that we are doing everything that we can to keep their data secure. We have a reputation as being trusted advisers to our clients. We want to ensure that they not only trust our advice but also trust our data security systems and processes.

In a fast-moving world with more and more sophisticated scams and cyber-attacks, do you really know how secure your precious personal data is?

Forrester Boyd Wealth Management is a trading name of FB Wealth Management Limited which is authorised and regulated by the Financial Conduct Authority registration No 531632.

All data and figures referred to in our news section are correct at the date of publishing and should not be relied upon as still current.

Information contained within this article is not a personal recommendation of Forrester Boyd Wealth Management. The wording in this article is not to be construed as an offer or advice. We recommend you seek advice concerning suitability from your investment adviser.