We are aware of recent reports in the media that groups of Russian based hackers are potentially planning to attack the Swift Banking System, used globally by banks and financial institutions.

Such an attack (if successful) could have a serious impact on UK businesses and as such we would recommend that you refer to the https://www.ncsc.gov.uk/ for their advice and take the following precautions as a minimum-

• Make sure your data is all backed up, and the backups are verified
• Ensure that your staff are made aware of this new threat and remind them to be extra diligent when clicking any links or opening email attachments
• Check your software is fully up to date and any recent patches have been applied

For more advice and guidance please go to https://www.ncsc.gov.uk/section/advice-guidance/all-topics?allTopics=true&topics=active%20cyber%20defence&sort=date%2Bdesc

Your usual account executive is on hand should you wish to review your cyber insurance policy.