It is believed that the main reason for this decrease is that hackers and other cybercriminals are focusing their attention elsewhere. Hackers have been piling the pressure on banks in recent years, and even the Bank of England has included cyberattacks as a major risk for the industry.
TheCityUK, a business group, has said that three quarters of fraud cases are now online, usually in the form of email scams. However, Miguel-Angel Rodriguez-Sola, the digital boss of Lloyds, is reporting that the number of attacks on banks has dropped. Rodriguez-Sola has said that the number of cyberattacks in the UK has increased, but over March and April the number dropped by five times what it was at the end of 2015.
He believes that the drop in attacks is partly due to stronger ties with the various law enforcement agencies, and partly because more data security measures have been taken. He has not been specific about the type of measures that have been put into place.
He believes that many hackers have started to target other industries. The telecoms sector has suffered a number of high profile attacks over the last year. He has also said that customers find it unnerving that the bank has to monitor if there are viruses on the computers of those who log in online. Half have said that they do not want to be informed by the bank if there is a problem like this, but the information is essential for bank security.