Ian Stuart, CEO of HSBC UK, emphasized the constant threat of cyber-attacks during a Commons Treasury Committee session, highlighting it as a major concern. Banks have faced significant IT vulnerabilities, with an alarming total of 803 hours of outages recorded over the last two years. Stuart noted that cybersecurity entails enormous costs as banks invest hundreds of millions to enhance their systems. The frequency and severity of attacks are rising, leading experts like Lisa Forte to stress the inevitable nature of such breaches for businesses.
The threat of cyber-attacks 'keeps me awake at night,' said HSBC UK CEO Ian Stuart, emphasizing its priority in banking amid rising digital vulnerabilities.
'Cyber-attacks are increasing in both number and severity,' highlights Lisa Forte, indicating that businesses need to prepare for inevitable breaches.
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