The Bank of England has recently appointed a CISO who is a former policeman and has specialised in fraud and counter-terrorism. Should our CISOs be specialists of this nature? Are we not exposed to similar risks? Is there a need for a formal CISO forum in our country with greater powers including standards setting? 40.
The UK regulators3 are in the process of overseeing a test, conducted by a private consultant, of UK banks’ ability to withstand a cyber-attack. The UK’s Financial Conduct Authority has already produced a study comparing banks’ “cyber resilience practices” to allow institutions to compare themselves with their peers. Should we not be emulating such tests to make our systems stronger? New RTGS system 41.