And by Wednesday, the attacks had shown no signs of slowing down.
"The defence mechanisms you put in are absolutely critical."Across his group, he said they are processing 1,000 payments a second while making 8,000 IT changes and updates every week.
Prof Oli Buckley, a cyber-security expert at Loughborough University, said cyber-attacks on financial institutions were "relentless" and "increasingly sophisticated"."Ian Stuart is definitely right to highlight cyber-security as a major concern for the banking sector, but recent events within retail have been a stark reminder that it can impact every sector," he added."It goes beyond just protecting customer data, it's about maintaining trust in the entire financial system. A breach doesn't just risk individual accounts; it can ripple through markets, reputations, public confidence and beyond."
Barclays, Lloyds, Nationwide, Santander, NatWest, Danske Bank, Bank of Ireland and Allied Irish Bank have also provided information to the committee.Between January 2023 and February this year, they experienced 158 IT failures between them.
Vim Maru, CEO of Barclays UK, addressed MPs about the
Serious IT problems affected online banking for several days, left some people unable to move home - and could result in the bank facing compensation payments ofA teenage artist who lost her sight at aged 15 says having her work displayed is a dream come true.
Lilly, from Kingstanding in Birmingham, was registered blind after undergoing surgery for several health issues, including the removal of two brain tumours.She found joy in painting as she recovered in hospital, after being inspired by American painter Bob Ross.
Her striking Hope Within the Mountains painting will be on display in Birmingham's Victoria Square throughout June.Lily said she was "happy, excited and surprised" it was part of the Open25 exhibition.