State cyber-attack poses big danger for UK banks: Bank of England

A state-backed cyber-attack could secretly corrupt the records of British financial institutions over a period of months, posing a risk that banks would probably struggle to guard against on their own, a senior Bank of England policymaker said.

Banks have focused mainly on stopping service outages, but the falsification of transaction records and other data was an even bigger danger, Anil Kashyap told lawmakers on Tuesday.

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