Yahoo Finance Lloyds on 'heightened alert' amid Russian cyberattack fears
The UK’s largest high street bank is on “heightened alert” for cyberattacks from Russia as Vladimir Putin launches invasion of Ukraine.
"We have been on heightened alert internally around our cyber risk controls and we have been focused on this now for quite a while," Lloyds (LLOY.L) CEO Charlie Nunn told reporters after the bank's full-year results
“This has been an area where we have invested really significantly over the last few years to strengthen our own cyber control and I know that other companies in the UK have been focused on their lack of protection as well,” he added.
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The National Cyber Security Centre (NCSC), a part of the GCHQ eavesdropping intelligence agency, called on British organisations to "bolster their online defences" following the developments.
"While the NCSC is not aware of any current specific threats to UK organisations in relation to events in and around Ukraine, there has been an historical pattern of cyber attacks on Ukraine with international consequences," it said in a statement hours before Putin ordered troops to invade.
Lloyds has been on heightened alert for the "last couple of months", Nunn said.
The prime minister on Wednesday told finance chiefs that he wants the next batch of sanctions against Russia to “really bite”.
Read more: The Russian banks and billionaires targeted by UK sanctions
Attendees included British banks Lloyds, Barclays, NatWest and HSBC, US banks Goldman Sachs, Citi and Morgan Stanley, as well as the Financial Conduct Authority and the Bank of England.
"This is obviously top of our minds at the moment. We have been, like other financial service organisations, talking to the government in the last few weeks," Nunn said.
"We have been very close to making sure we have checked all of our controls and we have the right capabilities in place to enforce the current sanctions and be ready for any new areas."
Watch: Sanctions at what cost? West dials up response to Putin's move on Ukraine
