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Recent data revealed through Freedom of Information requests exposes a concerning trend of computer hackers breaching City of London IT systems on five occasions within the past

four years.

These breaches occurred within the City of London Corporation, governing an area that encompasses significant financial institutions such as the Bank of England and the London Stock Exchange. The attacks, which included strikes on sensitive data, have raised fears of compromised personal information.

Ransomware has been the modus operandi for these hackers, locking computers and demanding monetary compensation for their release. Digital security expert Derek Mackenzie highlighted the surge in assaults on public sector departments as a reminder of the risks to national security.

The United Kingdom has remained vigilant for cyber threats, particularly those backed by state actors, since committing over £12 billion to support Ukraine in 2022. Despite these efforts, the Corporation has not been immune to cyber attacks.

The Corporation has been approached for comment regarding the breaches. Meanwhile, the Metropolitan Police, when notified of the incidents, categorized them as "civil matters," suggesting they fall outside the realm of criminal jurisdiction.

An aspect of concern is the potential impact on national security and the financial sector, given the pivotal role of the City of London in global finance. With cybercrime increasingly replacing traditional forms of criminal activity, such as bank robberies, the need for robust digital security measures is more pronounced than ever.

Jürgen Stock, head of Interpol, previously highlighted the evolving nature of criminal activity, emphasizing the sophistication of modern cybercriminals who operate as highly organized entities. As the world becomes more digitally interconnected, safeguarding against cyber threats remains paramount to protecting both personal and financial data. Photo by Santeri Viinamäki, Wikimedia commons.