The Importance of Cybersecurity for Capital Markets and Financial Firms
The capital market is a prime target for cyberattacks due to the vast amounts of sensitive data it handles, its high transaction volumes, and its...
4 min read
Harriet Oliver : May 14, 2025 8:00:00 AM
On the 25th of April, Marks & Spencer, one of the UK’s most trusted retailers, fell victim to a significant cyberattack that threatened to expose customer data and disrupted online services, resulting in a loss of revenue. The breach sent shockwaves through the business world, not just because of the scale, but because it highlighted how even well-established companies with security budgets are vulnerable. For small and mid-sized businesses, the message was clear: if it can happen to M&S, it can happen to anyone.
As cyber threats become more sophisticated and regulatory scrutiny intensifies, protecting your business isn't just about having antivirus software or a firewall but about aligning your cybersecurity practices with compliance requirements and even further. Whether you're handling customer data, processing payments, or managing internal operations, the cost of neglect can be catastrophic, both financially and reputationally.
Understanding the cybersecurity landscape is more critical than ever in 2025. Cyber threats are evolving rapidly, and legacy security tools are insufficient. Attackers are adopting new techniques to bypass outdated defences, driving the need for updated compliance regulations, more stringent security standards, and proactive defence strategies.
The types of threats businesses face today include:
Importantly, small and medium-sized businesses (SMBs) are now prime targets. According to the Verizon 2024 Data Breach Investigations Report, 61% of SMBs experienced a cyberattack in the past year. Cybercriminals often view them as low-hanging fruit due to weaker defences, a lack of in-house cybersecurity expertise, and limited compliance infrastructure. They are commonly targeted by ransomware, business email compromise (BEC), and phishing scams, often with devastating financial and reputational consequences.
Understanding and adhering to these regulatory standards is crucial for businesses to protect sensitive data, maintain customer trust, and avoid legal penalties.
Compliance and cybersecurity are not separate concerns but two sides of the same coin. Regulatory frameworks such as GDPR, PECR, and DORA are designed to institutionalise best practices in data handling, system access, and breach response. By aligning your cybersecurity strategy with these regulations, you’re not just avoiding fines. Instead, you’re building systems that are harder to compromise. For example, GDPR’s mandatory breach notification requirements encourage faster incident response, while ISO 27001’s structured risk management procedures ensure vulnerabilities are identified and addressed proactively. In this way, compliance doesn’t just help you meet legal obligations but strengthens your overall cyber resilience, helping prevent attacks like the one that hit M&S from succeeding in your business.
Understanding your responsibilities is the first step. Taking action is the next.
At Fitzrovia IT, we provide expert guidance tailored to your sector and risk profile. Whether you’re looking to achieve ISO 27001 certification, protect your business from cyberattacks, prepare for DORA compliance, set up security architecture, or improve your GDPR practices, our team is ready to help.
Get in touch today to book a compliance consultation or IT health check.
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