Why did the BBC not stop the ‘Trojan Horse’ virus from infecting UK banking customers?
Posted June 04, 2019 14:06:49The BBC’s Newsnight investigation into the UK’s banking crisis was the first of its kind to tackle the issue of bank trojanisation and how it was used.
It revealed how criminals had used a malware known as the ‘NannyBot’ to access customer data, and how the UK Government had refused to crack down on the scam until more than a year after it had been detected.
The news programme also revealed that the UK had been one of the first countries to shut down banking institutions, which has been criticised by the BBC as “the most egregious breach of trust in modern times”.
It also revealed how a US bank was “forced to apologise for the way it handled the financial crisis” and that other nations were “taking a different approach” in the wake of the financial scandal.
Newsnight asked some of the biggest names in the financial sector, including banks, insurers and the British government for their views on the issue.
Here are some of their answers:Banks”They need to do more.
They need to act faster.
It’s a very important issue.
You have to act now,” said Barclays’ chief executive, Raghuram Rajan.”
It is not the end of the world if there are a lot of banks in the world, there are people out there who have the same risk profile.
That’s not a problem.
If there are some institutions that are more vulnerable to being hacked, then you need to be proactive and take a different, more aggressive approach.”
The British Government should take a lead on this issue and not wait for us to do it for ourselves,” he said.
Rajan also said the UK government had been “very supportive” of the investigation and that the investigation was the result of “hundreds of interviews”.”
We are working with the banks, the police and regulators and our own experts to get to the bottom of the matter.
We have got a lot to answer,” he added.”
We will not stop until we get the answer,” added a spokesman for Lloyds Banking Group.
A spokesperson for Lloyd’s Banking Group said the bank was aware of the report and that “the bank does not comment on individual matters”.”
Lloyds has been supportive of the investigative process and our investigation has taken place on our behalf,” the spokesperson added.
In its response to Newsnight, Lloyd’s said it was committed to doing “everything possible to ensure that this matter is investigated promptly and we will take all necessary action.””
We have worked with the police to support the investigation, and we continue to work with regulators and regulators in the industry to address any remaining questions they may have about our bank,” the statement added.
But Lloys chief executive Andrew Wright said the company was “still working with regulators on our own”.”
The bank has been absolutely supportive of this investigation and our team is continuing to work closely with regulators to resolve any remaining issues,” he told the programme.”
I have not been aware of any significant concerns raised about Lloyns customers being impacted by the malware.
We remain focused on working with our regulators to address all remaining concerns and concerns raised by the inquiry.
“The BBC said that the programme had revealed “one of the most complex and challenging banking investigations in history”, with the BBC’s chief executive Mark Thompson saying that the inquiry had shown the “vast scope of the problem”.”
The programme revealed that one bank in the UK is responsible for more than half of the trojan infections in the country. “
It has also shown the extent to which people have been misled about the threat posed by the Trojan horse.”
The programme revealed that one bank in the UK is responsible for more than half of the trojan infections in the country.
It said that HSBC was responsible for two-thirds of the infections, and that Barclays was responsible to about half of all bank malware.
In a statement, HSBC said that it had “investigated this issue extensively and concluded that the Trojan malware used to gain access to customers’ personal information was not malicious”.”HSBC’s investigation revealed no evidence of malicious intent,” it said.
“The bank was not aware of, and did not disclose, any breach of the bank’s security controls and did nothing to increase confidence in the integrity of the information it was gathering.”
In its own statement, Barclays said that its investigation was “focused on the Trojan Trojan horse”, which “targets bank accounts and data”.
“As the trojans use the banking infrastructure to steal money and steal people’s identities, we believe it is appropriate to address the risk posed by it,” the bank said.
“As a result of the BBC Newsnight programme, Barclays has committed to addressing any identified security risks.
The bank has implemented an enhanced monitoring and control system to further monitor and control the use of our systems.”
While we cannot comment further on the specifics of the latest investigation, we will continue to closely monitor the activity