The Bank of England is facing criticism for losing hundreds of laptops and phones amid rising cyber threats.
Official figures obtained through the Freedom of Information (FOI) Act revealed that the institution reported 333 laptops, mobile phones, and tablets as lost or stolen over the last three years. This includes 216 laptops, valued at £3,114, and 109 missing mobile phones estimated at £1,737. Additionally, eight tablet computers were reported missing, worth £2,294.
Patrick Sullivan, CEO of the Parliament Street think tank, criticized the Bank of England for its handling of security, stating, “The BoE is blundering towards a major security disaster.”
This revelation comes as cyber criminals have launched successful attacks against major UK retailers, affecting companies like Marks & Spencer and the Co-Op. M&S faced significant challenges, reportedly losing £43 million a day in sales as it worked to restore its systems.
UK banks are also frequent targets for hackers, with NatWest stating it repels around 100 million cyber attacks monthly.
John Lucey, VP EMEA at Cellebrite, emphasized the need for stringent security measures, noting that every lost or stolen device could become a valuable target for cyber criminals. He remarked on the importance of properly securing mobile and laptop devices, especially in the context of remote and hybrid work.
In response, the Bank of England has stated that all laptops, tablets, and mobile phones are encrypted, and measures are in place to block lost or stolen devices from further communication with the institution.