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UK banks put on war footing by BOE as cyber threat increases


The BOE has identified cyberattack as a major risk to banks, and has firms tested to determine their resilience. — Reuters

The BOE has identified cyberattack as a major risk to banks, and has firms tested to determine their resilience. — Reuters

The Bank of England told banks to be ready for war against the mounting threat of crippling cyberattacks. 

“I would like our firms to be on a WAR footing: withstand; absorb; recover,” Lyndon Nelson, deputy chief executive of the BOE’s Prudential Regulation Authority, said in a speech on June 13. 

   

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