Recent cyber attacks reveal bank vulnerabilities, says Bank of England
Several banks have been targeted in cyber attacks in the past six months, highlighting the vulnerabilities of their complex IT systems.
Several banks have been targeted in cyber attacks in the past six months, highlighting the vulnerabilities of their complex IT systems.
Cyber attacks have risen to the top of the list of threats for UK banks according to Bank of England's director of financial stability, Andrew Haldane, but understanding and management of the risk is still at an "early stage".
In a new report the Government Office for Science has suggested risks in financial computer trading are potentially as severe as those facing the nuclear industry, and that markets may have to follow the safety standards found in the nuclear sector.