The Bank of England has made an urgent call for all UK institutions to heighten cybersecurity following the Bangladesh hack. This order marks the earliest known case of a central bank in a major economy ordering a formal security check-up of its member banks in response the cyber-heist at the Bangladesh bank in February. Neil Greathead, Vice President, Chief Customer Office, EMEA, BMC Software commented on this news below.
Neil Greathead, Vice President, Chief Customer Office, EMEA, BMC Software:
The Bank of England’s call to action is a reminder that British businesses can no longer afford to be complacent in the face of mounting cyber security threats.
As companies continue to embrace digital transformation initiatives, hackers will increase attacks to steal confidential data. That’s why it’s critical that banks and organisations in the financial services space increase information security procedures for the long-term.