As technology grows exponentially and expands our knowledge and database evermore its also worthwhile knowing that as well as expanding our skill sets and resources it is also a haven and boon for cyber criminals. Britain is facing increasing cyber attacks on its banks and hardly a week seems to go by without yet another high street bank revealing that it was the victim of attempted cyber crime.Indeed one of its biggest Santander was recently criticized for having weaker than desired preventative software.Minutes of last months meeting by the Financial Policy Committee revealed that cyber crime in the UK is growing and has many dimensions.
Moves are afoot to ensure that the Treasury work with the biggest lenders to ensure that some definitive measures are in place by the end of the first quarter of 2014. The UK’s banking sector is particularly at risk due to old and complex IT systems, as well as a high degree of interconnectedness and its reliance on centralized infrastructure, such as payment systems and clearing houses. Details of the FPC’s worries come just days after the Ministry of Defense announced it was creating a new Joint Cyber Reserve Unit to help defend national security as it battles against hundreds of thousands of attacks against secure government sites each year.