Institutions looking to defend themselves against cyber attacks should not seek to surround themselves with impenetrable defences, but focus instead on responding to threats, according to Andrew Gracie, the Bank of England's (BoE) executive director for resolution.

In a speech to the Cyber Defence and Network Security Conference in London today, Gracie stressed the constantly evolving nature of cyber threats, making it very difficult to design suitable defences in advance.

"Rather we should