Summary
New research from the ethical hacking platform Ethiack highlights alarming cybersecurity risks faced by UK fintech companies. Nearly a third of fintechs analysed are exposing customer data to potential cyber attacks, as they often reveal critical software details on their web servers.
Moreover, about 20% of these platforms are using expired or invalid SSL certificates, which puts users at risk of data interception while logged in. The study emphasises an industry-wide dependency on common infrastructure platforms, raising concerns about a wider vulnerability to attacks.
Key Points
- One-third of UK fintechs are reported to be at risk of cyber attacks.
- 40% of fintechs expose critical software details on their web servers.
- 20% use expired or invalid SSL certificates, compromising user security.
- Over half of these companies rely on well-known platforms like Cloudfare, Nginx, or Apache, increasing systemic risk.
- The rising cyber threats are prompting fintechs to expand their workforce significantly.
Why should I read this?
If you’re into fintech or simply care about your personal data, you’ll want to get clued up on this. The findings are pretty shocking—many fintech firms are basically leaving the door ajar for cybercriminals! Understanding these vulnerabilities can help consumers pick safer options and push the industry to fortify its digital defences. You definitely don’t want to be caught off-guard, so why not dive into the details?