BoE to launch ‘cyber stress tests’
Firms will be expected to demonstrate they can recover from a breach within an agreed timescale
The Bank of England (BoE) is moving from testing financial firms’ cyber resilience to assessing their ability to recover from a breach, unveiling a set of “cyber stress tests”.
The financial policy committee (FPC) is developing a set of standards for how quickly it expects different types of financial firms to recover following a cyber breach. Banks, payment systems and central counterparties are likely to be held to different standards, according to the systemic disruption an attack would
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