BoE’s Kashyap warns banks vulnerable to state-sponsored cyber attacks
FPC member says he is not sure banks are capable of defending themselves
Bank of England policy-maker Anil Kashyap has warned banks may not be able to defend themselves from a state-sponsored cyber attack.
A “data integrity breach” is a key concern, said Kashyap, an external member of the BoE’s financial policy committee, during remarks to the UK’s Treasury Committee.
“You could be restoring a corrupt system,” he said, adding it was possible hackers might have had access to the system for several weeks before being detected. If data is damaged beyond repair
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