British banks are afraid that if they disclose the full picture of the cyberattacks they're under, they might suffer public backlash resulting in reputational damage and loss of customers. That's why they never fully report when they're under cyberattack. And the attacks are getting more frequent. This is all according to Reuters, which cites Israeli-based cyber security firm Illusive Networks, Barclays, and others. Illusive Networks chief executive officer, Shlomo Touboul, says banks aren't exactly doing anything illegal. In the UK, they're not obliged to reveal everything. "There is a grey area... Banks are in general fulfilling their legal obligations but… [Continue Reading]
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