How to prevent the next Asos? Give businesses cybersecurity tax relief Opinion With Asos just the latest to be the victim of a cyber hack, it's time for the UK to start incentivising businesses to up their security.
Goldman-linked EY breach highlights new era of undetectable data theft Tech Sensitive corporate data can be stolen through everyday workplace software without setting off traditional cyber defences, Darktrace has warned, after a breach at the Big Four giant exposed information linked to Goldman Sachs and Man Group. Nathaniel Jones, senior vice president of global threat intelligence at Darktrace, told City AM attackers were increasingly able to [...]
Beazley expands cyber cover for AI malfunctions and regulatory risks Insurance FTSE 100 insurance giant Beazley has launched a new cyber line for businesses that insures against unintentional regulatory non-compliance and financial and reputational losses as a result of AI system malfunctions. Speaking to City AM, the speciality insurer’s head of cyber risks, Alessandro Lezzi, said the move comes as the firm sees “AI changing the threat [...]
Cyber insurers consider limiting coverage as sector scrambles to price agentic AI risks September 24, 2026 The cyber insurance market is facing a turbulent time as agentic AI hacks pose new challenges and threats. City AM understands underwriters and insurers are considering limiting coverage until they can quantify the risk this tech poses and price it. Cyber insurance has been a fruitful market over the past few years, with a spike [...]
Hugging Face hack spells ’emergency for the City of London’, warns top lawyer September 24, 2026 Everything companies have done to prepare for a cyber attack is now “completely old world” following the OpenAI–Hugging Face hack over the summer, a top City lawyer has warned. The “unpredecented” July hack, in which OpenAI’s model escaped a controlled test by itself and broke into the AI platform Hugging Face, prompted a probe from [...]
Revolut hackers stole nearly 700 customers’ private data September 15, 2026 The group of hackers behind a major breach of Revolut managed to steal nearly 700 customers’ private data, City AM understands. Revolut has contacted the 680 people affected by what it described as a “sophisticated” impersonation scam, according to a source close to the bank. The compromised data included customers’ identity documents, postal and email [...]
Stansted Airport owner hit with cyber attack as millions of customers’ data stolen August 27, 2026 The owner of London Stansted has been targeted in a cyber attack that has led to customers data being stolen. Manchester Airport Group (MAG), which runs Stansted, East Midlands and Manchester Airport, said on Thursday customers’ email addresses, phone numbers, vehicle registrations and postcodes had been seized in a “cyber security incident by an unauthorised [...]
AI gold rush leaves accountancy firms exposed to costly cyberattacks August 12, 2026 Accountancy firms are pouring millions of pounds into AI, but the industry forgot to modernise security systems and is leaving itself exposed to costly cyberattacks. According to a report by software company Fastly, shared with City AM, more than 75 per cent of businesses that identified as AI-first, meaning they had integrated AI into core [...]
UK government probes OpenAI breach after ‘unprecedented’ hack July 22, 2026 The UK government is probing the first known case of an artificial intelligence model breaking out of a controlled test by itself and hacking another company’s systems. Officials at the government-backed AI Security Institute (AISI) are investigating the security breach at OpenAI and whether similar incidents could occur at other top developers, a spokesperson told [...]
Top spook says Russia ‘relentlessly targeting’ UK infrastructure May 27, 2026 One of Britain’s top spooks is set to warn that Russia is “relentlessly targeting” the country’s critical infrastructure as businesses have been urged to take action on cyber security. GCHQ director Anne Keast-Butler will deliver a speech on Wednesday where she will warn the public about cyberattacks by Russia and other hostile actors targeting the [...]