Banking News

Lloyds joins UK banks' Cyber Defence Alliance

Lloyds joins UK banks’ Cyber Defence Alliance

(16 February 2017 – United Kingdom) Lloyds Banking Group is the latest lender to join a new British cybersecurity group for banks called the Cyber Defence Alliance (CDA), Reuters has reported.

Lloyds joins UK and European high-street counterparts Barclays, Deutsche Bank, Santander UK and Standard Chartered in the CDA.

A spokeswoman for Lloyds confirmed that the bank joined the group on 8 December.

According to the report, the London-based CDA was created to assist in sharing of information following cyber security incidents, with banks joining it paying to help to fund it and gain access to the group's pooled knowledge on the latest attack methods.

Banks have stepped up information sharing on such security incidents in recent months in response to an increase in attacks on their systems, including an attack on Tesco Bank last November that was Britain's biggest ever financial cyber heist.

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