Gibraltar: Monday 01 July 2024 at 08:30 CEST
THREAT INTEL: PAYDAY MELTDOWN – Furious HSBC, Nationwide, Barclays and Virgin Money customers are left unable to pay bills as ‘IT glitch’ means salaries aren’t in accounts.
By Andy Jenkinson – Guest Contributor | Group CEO Cybersec Innovation Partners
via CYBERInsights
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THREAT INTEL: PAYDAY MELTDOWN – Furious HSBC, Nationwide, Barclays and Virgin Money customers are left unable to pay bills as ‘IT glitch’ means salaries aren’t in accounts.
Questions must be raised by Financial Conduct Authority. Information Commissioner’s Office, Bank of England, CREST, UK Finance and every Banking Executive and CEO as to why, not a single one of the affected Banks involved in today’s outages are meeting basic security standards of UKDPA, ISO27001, GDPR by maintaining INSECURE servers?
This revelation shows a reckless disregard for basic security and the security of millions of clients. It also shows whatever £millions are spent on security, pen-testing, and accreditation is not spent well as basic security of critical servers are being ignored.
We have shared information with most of these banks previously including CREST. All chose to ignore.
The Financial Conduct Authority and Information Commissioner’s Office really need to step up their capability and enforce the Financial sector to start taking security seriously. It is evident that currently, and for several years as our research shows, they simply have not.
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