BOE Tells U.K. Banks Cyber Attacks Are Coming, Now Get Ready

Many U.K. financial firms don’t have a Plan B to fall back on if they’re hit by a cyber attack. The Bank of England wants to change that.

Financial regulators told firms to come up with a detailed plan for restoring services such as payments, lending and insurance after a disruption, and to invest in the staff and technology to make it work. The plan should include time limits on how long an outage could last.