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November 19, 2014

Financial institutions warned of Isis cyber attack

Islamist terrorist group could target London and New York institutions.

By CBR Staff Writer

The City of London police has warned financial institutions in London and New York of a potential cyber attack from Islamist terrorists.

City Police commissioner Adrian Leppard has expressed concerns regarding the issue, and expects to strengthen ties with the New York District Attorney’s Office to improve the cyber defence mechanism in London and New York.

The Financial Times reported Leppard as saying: "We look at terrorism and you think…if global trading stopped that would have an enormous impact on western society, global society…at the heart of capitalism.

"There could be a very serious impact to the financial institutions of the world through a cyber attack and I think it’s a very strong likelihood that it will happen one day in the future, which is why we’ve got to push back and take action now before it happens."

The threat is expected to be from Isis, a terrorist group originating from Islamic State of Iraq and the Levant.

The City police, along with major players from the banking sector, are working towards formation of an intelligence-sharing hub which will be designed to strengthen information sharing and security which will be difficult to breach.

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