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An important speech by the FCA Chief Executive Nikhil Rathi on the role finance plays in national security.
Geopolitical tensions, including cyber attacks and the threat of cyber on the UK economy and national security. Cyber has been demonstrated to have impacted UK manufacturing and supply chains with the JLR hack. The UK Ministry of Defence may have been hacked, and the details of military bases compromised. Additionally, UK retail suffered from the hacks of Marks and Spencer and Co-op. The National Cyber Security Centre has upped its game recently, reiterating the need for UK industry to improve its cybersecurity.
Nikhil Rathi makes many important points about physical security and the transition to cybersecurity, which today’s Geopolitical conflicts now demonstrate.
Today’s security spreads across a digital and financial map: data centres, payment networks, financial infrastructure, satellites, grids, cloud software and undersea cables.
and the reliance on the finance system on dual-use technology, the needs to be protected.
Dual-use tech making investors money: securing computers, satellites and cyber resilience. Private finance bridging innovation and security.
The UK does not have a defensive cyber strategy, nor the skills or resources needed to implement a whole-of-society approach to cyber. An approach that in the first instance requires all UK CNI to manage cyber risk. A strategy is required to identify and enforce the defensive capabilities needed to protect the UK CNI.
@Thaddeus Dziekanowski Brian D. McCarthy Faisal Khan
Veritas GRC Financial Conduct Authority Bank of England
#nationalsecurity #cybersecurity
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