British banks told to beef up cybersecurity

British banks have six months to develop a plan for getting their cybersecurity houses in order, following a meeting of the Bank of England's Financial Policy Committee that found the industry's "complex legacy IT systems" leave financial networks open to attack. Under the proposal, the Bank of England will conduct an assessment of its own cyber-readiness and work with the Treasury to bolster the resiliency of payment systems and financial clearinghouses.

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