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Cyber-attack threat keeps me awake at night, bank boss says

Ian Stuart, from HSBC, said banks were spending "enormous" sums shoring up their IT systems.

Ian Stuart, the CEO of HSBC UK, said cyber security was "top of the agenda" for his banking group, and dealing with IT vulnerabilities was an "enormous" expense for the sector as a whole. Mr Stuart and other bank bosses have been speaking to the Commons Treasury Committee which has been taking evidence on a range of issues affecting the industry, including how vulnerable it is to outages and cyber attacks. Lisa Forte, of the cyber security company Red Goat, told BBC News that Mr Stuart had made "an incredibly important point".

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