The Bank of England is testing the UK’s ability to withstand a major cyber-attack on financial institutions.

The Bank of England’s press release says: “This exercise forms a vital part of the sector wide biennial process that seeks to ensure the industry is prepared for and can respond effectively to any major disruption stemming from a cyber Incident, protecting the financial system on which the public relies.”

“The exercise will help authorities and firms identify improvements to our collective response arrangements, improving the resilience of the sector as a whole.”