View more on these topics

Bank of England steps up fight to tackle cybercrime

Cyber security

The Bank of England is to hold a “war game” this week to stress test the defences of financial firms against a cyber attack.

The Sunday Times reports the “Resilient Shield” test will simulate a hack on financial firms to test whether banks can withstand sustained attacks in a bid to breach security.

It will test whether cash machines and electronic payment systems would still be able to operate in the event of a cyber attach. Large global institutions in London will be subject to the test, while officials from the Federal Reserve will observe the results in a teleconference.

The results of the test should help the Bank draw up plans to help the economy cope with a cyber attack, such as shutting down internet banking systems and the forced closure of bank branches.

Recommended

Cyber threat.jpg
5

Under attack: Advisers warned of cyber risks of ‘insecure’ email

Advisers are exposing their clients to the risks of fraud and theft, experts warn as research reveals hundreds of firms are using non-secure email addresses. Data from Matrix Solutions compiled for Money Marketing shows 9 per cent of advice firms use a webmail domain name as their company email address. Of a sample of 4,945 […]

Cyber security

MM leader: Waking up to the cybercrime threat

In an era of mobile devices, working remotely and Cloud computing, the modern way of working means data security is increasingly crucial. One wrong move could ultimately bring down a company if sensitive data gets into the wrong hands. It is easy to be derisory of the security lapses committed by others. Briefcases or laptops […]

Cyber security

Banks and financial firms hit by $1bn cyber attack

Around 100 banks and financial firms have been targeted as part of a global cyber attack with losses estimated at $1bn (£650m). The Financial Times reports the potential losses are from a number of attacks over the past two years, according to a statement from security company Kaspersky. In a statement yesterday, said to be […]

BoE
1

UK and US to test cyber attacks on banks

The UK and US are to carry out staged cyber attacks on each other’s banks as part of a new joint defence against online criminals. The BBC reports the first exercise in a series of “war game” cyber attacks will involve the Bank of England and US and UK commercial banks. It is set to […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com