Bank of England calls for ‘super shield’ against cyberattacks

FILE PHOTO: A man walks past the Bank of England in the City of London, Britain, February 7, 2019. REUTERS/Hannah McKay/File Photo

LONDON: Britain may need to copy the United States in building a "super shield" against catastrophic cyberattacks or major IT glitches that could cripple the finance industry, a senior Bank of England official said on May 14.

The BoE is already taking action to ensure that banks, insurers and other financial firms can minimise the impact of cyberattacks or technology outages on customers and recover as soon as possible.