Topic: regulatory standards resilience

UK Banks Battle Constant Cyberattacks: How They Stop Hackers

Within hours of a successful bank hack, millions of direct debits could fail, leaving rents, mortgages and wages unpaid. Online banking may be blocked, cash machine withdrawals denied, and commuters left in limbo as buses and petrol stations reject payments. This situation may seem far-fetched but it is not a long way off from the government’s “reasonable worst-case scenario” if a sophisticated cyber-attack hit a big UK bank. Where hackers have been successful, they have more often than not targ...