Treasury committee: legacy systems, human error, and deliberate attacks weaken banks.
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GCHQ must do more to protect UK banks from hack attacks, say MPs
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We do indeed disproportionately rely on our banking sector for revenues.
However, that does not mean that it should be our government's job to secure the infrastructure of those private companies.
This entire idea smacks of the good old "privatise the profit, nationalise the costs and debts" strain that the Conservative party likes so much.
Make the banks do their own security work.
However, that does not mean that it should be our government's job to secure the infrastructure of those private companies.
This entire idea smacks of the good old "privatise the profit, nationalise the costs and debts" strain that the Conservative party likes so much.
Make the banks do their own security work.
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The banks have created this mess for themselves over decades of digital banking.
If they can't keep their stuff secure, they're doing it wrong!
As per the Amazon middleman article, banks are another middleman increasingly fighting for relevance.
Let everyone use Bitcoin (as an example) and the banks need not exist for most day to day banking.
Giving them taxpayer money, and having tax funded gchq protecting their monolithic out dated and vulnerable systems when they need not even exist for many is a waste of our money.
If they can't keep their stuff secure, they're doing it wrong!
As per the Amazon middleman article, banks are another middleman increasingly fighting for relevance.
Let everyone use Bitcoin (as an example) and the banks need not exist for most day to day banking.
Giving them taxpayer money, and having tax funded gchq protecting their monolithic out dated and vulnerable systems when they need not even exist for many is a waste of our money.
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While banking regulations are not sufficiently punitive or outright non-existent for security breaches, it's not in a bank's business interest to put the effort in. Only when it has an eye-watering effect on their bottom line will they ever take security as seriously as they do selling their product.
It is in the national interest for the cyber security services to protect the nation's financial industry. However, the banking regulators need to be willing and able to issue strong punishments. Not to do so invites the lax practices that inevitably result in wholesale data looting.
I am typically against victim blaming. Although if the victim in question keeps leaving a large stack of cash on the windowsill of a house made from straw, they need a sharp slap to the head.
It is in the national interest for the cyber security services to protect the nation's financial industry. However, the banking regulators need to be willing and able to issue strong punishments. Not to do so invites the lax practices that inevitably result in wholesale data looting.
I am typically against victim blaming. Although if the victim in question keeps leaving a large stack of cash on the windowsill of a house made from straw, they need a sharp slap to the head.
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GCHQ and others of that ilk? Help prevent attacks?
HahaHahaHahaHahaHahaHahaHahaHahaHaha....
These are the guys who trying to make attacks possible for their own benefit. Better security means they don't get a look-in. Together with the government, they're trying to block the use of encryption or to introduce back-doors that can be easily exploited by thieves. They're turning security into a nightmare problem for the IT industry and now…
…a committee is calling for better security?
Well, good luck with that paradox.
HahaHahaHahaHahaHahaHahaHahaHahaHaha....
These are the guys who trying to make attacks possible for their own benefit. Better security means they don't get a look-in. Together with the government, they're trying to block the use of encryption or to introduce back-doors that can be easily exploited by thieves. They're turning security into a nightmare problem for the IT industry and now…
…a committee is calling for better security?
Well, good luck with that paradox.
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