Bank of England ranks cyber attacks above Eurozone crisis as biggest threat

[InfoSec News <alerts () infosecnews org>]

http://www.computerworlduk.com/news/security/3452438/bank-of-england-ranks-cyber-attacks-above-eurozone-crisis-as-biggest-threat/

By Matthew Finnegan
Computerworld UK
13 June 2013

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”.

Speaking at a Treasury select committee on Wednesday, Haldane said that during 
recent meetings with the five top banks in the UK, four of the banks had 
claimed that the threat of cyber attack now present a major threat to their 
stability – more so than even the eurozone crisis.

However Haldane said that despite the awareness among leading banks, there was 
still a way to go in terms of fully understanding the risk presented.

“Four of the five identified cyber risk as having risen to the top of their 
list, which I thought was very interesting,” Haldane said. “What was just as 
interesting was that the fifth firm didn’t have it on their list.”

[...]

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