Are UK Banks Vulnerable to Cyber Attacks?

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Cyber Security Hub

• www.cybersechub.net

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Are UK Banks Vulnerable to Cyber Attacks?

• The Tesco Attacks
• One of the worst cyber-attacks that occurred
  recently was the theft of 20,000 accounts at
  Tesco bank. This IT security attack caused the
  bank to suspend all of its accounts while it
  looked into criminal activity and mounting
  financial losses. Essentially, Tesco bank has
  recently asked for help by the Nation Cyber
  Security Centre (NCSC) to enhance security on
  safeguarding the internet of things.

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Are UK Banks Vulnerable to Cyber Attacks?

• A Weak and Vulnerable Cyber-Security System
• The major concern with banks in the United
  Kingdom is how easy it is to breach the current
  security systems. According to chief executive of
  High-Tech Bridge, a web security company, at the
  same time youve got a lot of companies trying to
  optimise their costs, and preferring to save
  money on the cyber side. Its hard to predict how
  successful and how large the scale will be, but
  Im pretty sure it will get worse. 

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Are UK Banks Vulnerable to Cyber Attacks?

• UK Banks Current Cyber-Security
• Banks in the United Kingdom are regulated by the
  Financial Conduct Authority (FCA) and the
  Prudential Regulation Authority (PRA) to identify
  in fraudulent large exchanges of money. Many
  banks in the United Kingdom are not protected by
  two factor security steps that help with the
  authentication of users for each account. This
  more secure form of IT security would require a
  PIN, or a password, in combination with a card
  reader that is sent to their mobile phone before
  accessing the account.

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Cyber Security Hub

• www.cybersechub.net