Latest News

Bank of England tells insurers to bolster defences against cyber attacks

© Reuters. FILE PHOTO: The Bank of England is seen in the City of London, Britain, February 14, 2017. REUTERS/Hannah McKay

LONDON (Reuters) – Insurers in Britain should reinforce their defences against cyber attacks disrupting their business, the Bank of England said on Wednesday, as fears of hacking have increased following Russia’s invasion of Ukraine.

“We expect firms to be able to demonstrate their operational ability to withstand and recover from severe but plausible scenarios such as ransomware attacks,” the BoE’s executive director for insurance Charlotte Gerken said in a speech.

Cyber risk continues to haunt all businesses and having a cyber insurance policy does not substitute the need for a robust framework to manage cyber risk, she said.

Bank of England tells insurers to bolster defences against cyber attacks

Disclaimer:Fusion Mediawould like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News