BoE’s Stheeman sets out expectations on cyber resilience

The Bank of England

The Bank of England is expecting higher standards from firms on their cyber resilience, as it steps up action against a crime that is becoming much more prevalent than other forms of theft.

Elisabeth Stheeman, a member of the BoE’s financial policy committee, said the central bank was concerned that a “severe or persistent” cyber attack that let to a data breach or outage could undermine trust in the financial system.

In a bid to increase resilience, the FPC is looking to set “impact

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