Preparing for Future Technology Crises: A Call to Action from the FCA
In light of recent operational crises, the Financial Conduct Authority (FCA) has issued a stark warning to the financial industry: firms must enhance their preparedness for technology-related disruptions like the CrowdStrike incident. This incident, which occurred in July, saw a faulty update from the cybersecurity firm disrupt services for approximately 8.5 million Microsoft Windows devices, resulting in significant operational fallout for various sectors, including aviation, healthcare, and banking.