A cyber security expert who believes the ransomware epidemic could be even worse than reported will speak at a cyber security breakfast event.

Pentest managing director John Denneny told BusinessCloud: “Nobody likes to admit to it – I don’t think many are declared as it doesn’t look good for a company to be that exposed.

“If you are vulnerable to that threat, it can happen time and again.”

Cyber security and the growing FinTech sector will be the subject of the BusinessCloud business breakfast in Manchester on November 2. Sign up for the event here.

Tackling it is now a top priority of UK businesses as most have already fallen victim to an attack. As the criminals become more sophisticated, that figure is only going to rise.

Although most breaches won’t be on the scale experienced by Mossask Fonseca – the law firm at the centre of the Panama Papers hack – the case served to highlight the clear and present danger posed by cyber attackers.

Given the rash of high profile attacks it’s staggering that the vast majority of breaches are caused by human error, highlighting that ignorance is acting as an open invite to the criminals.

And all this at a time when the burgeoning financial technology sector – known as FinTech, is going from strength-to-strength. The UK is a magnet for innovative companies that use technology to make financial services more efficient.

BusinessCloud’s FinTech and cyber security breakfast, to be held on Wednesday 2nd November at the UKFast Auditorium, Manchester, will hear from some of the UK’s most innovative FinTech firms and discuss the omnipresent danger of cyber security. 

UKFast-owned Secarma acquired Altrincham-based application security specialists Pentest Limited for an undisclosed sum in July.

Pentest technical director Mark Rowe told BusinessCloud recently that businesses should strengthen their defences against cyber attacks amid the rise in ransomware.

Cyber gangs are employing customer services teams and are willing to negotiate on price and deadline.