{"id":18698,"date":"2025-02-22T12:00:03","date_gmt":"2025-02-22T11:00:03","guid":{"rendered":"https:\/\/cyberinsights.iainfraser.net\/?p=18698"},"modified":"2026-06-11T15:39:21","modified_gmt":"2026-06-11T13:39:21","slug":"who-is-fooling-who","status":"publish","type":"post","link":"https:\/\/smecyberinsights.co.uk\/index.php\/2025\/02\/22\/who-is-fooling-who\/","title":{"rendered":"REPORTAGE: Bank of England and Oracle Cloud: Who\u2019s Fooling Who?"},"content":{"rendered":"\t\t
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\"Partners1_NordVPN\"<\/figure><\/div>
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Helping Keep Small Business CYBERSafe
\n<\/strong>M\u00e1laga: Saturday, 22 February 2025 at 12:00 CEST<\/p>\n

REPORTAGE: Bank of England and Oracle Cloud: Who\u2019s Fooling Who?<\/b>
\nBy Iain Fraser\/Reportage & Andy Jenkinson CIP<\/a>
\nvia\u00a0 CYBERInsights<\/a> – The UK\u00a0 Small Business Cybersecurity Network<\/a>
\n<\/em>Google Indexed on 220225 at 13:00 CET
\n<\/a>#CyberInsights #CyberSecurity #CyberAwareness #CyberSafe #SME #SmallBusiness #BankofEngland #CBEST #Insecurity<\/em><\/p>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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REPORTAGE: Bank of England and Oracle Cloud: Who\u2019s Fooling Who?<\/b><\/p>\n

The Bank of England<\/strong>, the UK\u2019s<\/strong> financial bedrock, has nearly doubled its spending on Oracle Cloud<\/strong> transformation\u2014yet security remains an afterthought.<\/p>\n

With a newly inflated \u00a313.8 million contract for implementation partner Version 1, this initiative should inspire confidence. Instead, it reveals a hard truth: throwing money at a problem\u2014even when you print it\u2014doesn\u2019t make it go away.<\/p>\n

This is the same Bank that oversees the Prudential Regulation Authority (PRA<\/strong>) and CBEST<\/strong>, a framework designed to test cyber resilience across the financial sector. And yet, the BoE\u2019s<\/strong> own cybersecurity posture remains shockingly inadequate.<\/p>\n

Its so-called \u201cexperts\u201d seem more focused on bureaucratic compliance than ensuring the integrity of Britain\u2019s financial data. Meanwhile, Oracle\u2019s<\/strong> track record on security is hardly reassuring\u2014historical vulnerabilities have left sensitive enterprise data exposed worldwide.<\/p>\n

Pair the Bank\u2019s lack of cyber hygiene with Oracle\u2019s<\/strong> patchy security record, and you get a perfect storm of risk\u2014unless, of course, cybercrime is part of the business model.<\/p>\n

\u201cInsecure data in an insecure cloud\u201d<\/em> isn\u2019t a security strategy\u2014it\u2019s negligence.<\/p>\n

Years of threat intelligence sharing have failed to shift the BoE\u2019s<\/strong> fortress mentality, leaving it a prime target for cybercriminals and nation-state actors alike. The question isn\u2019t if a breach will happen\u2014but when. And when it does, the fallout could shake the financial system to its core.<\/p>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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About Andy Jenkinson<\/span><\/strong><\/p>\n

Group CEO CIP. Fellow Cyber Theory Institute. Director Fintech & Cyber Security Alliance (FITCA) working with Governments. Recognised Expert in Internet Asset & DNS Vulnerabilities.<\/span><\/strong><\/p>\n

Andy Jenkinson is a senior and seasoned innovative Executive with over 30 years\u2019 experience as a hands-on lateral thinking CEO, coach, and leader.<\/p>\n<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Image Credit: IfOnlyCommunications<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Image Credit: Kai Pilger from Pixabay LEARN MORE \/… LEARN MORE \/… Image Credit: IfOnlyCommunications…<\/p>\n","protected":false},"author":1,"featured_media":18699,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"cybocfi_hide_featured_image":"yes","footnotes":"","_ppma_block_editor_authors":""},"categories":[594],"tags":[439],"ppma_author":[505],"class_list":["post-18698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-reportage","tag-cyberthreat-intel"],"featured_image_urls":{"full":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2025\/02\/city-of-london-4481399_1920-1.jpg",1920,1280,false],"thumbnail":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2025\/02\/city-of-london-4481399_1920-1-150x150.jpg",150,150,true],"medium":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2025\/02\/city-of-london-4481399_1920-1-300x200.jpg",300,200,true],"medium_large":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2025\/02\/city-of-london-4481399_1920-1-768x512.jpg",640,427,true],"large":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2025\/02\/city-of-london-4481399_1920-1-1024x683.jpg",640,427,true],"1536x1536":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2025\/02\/city-of-london-4481399_1920-1-1536x1024.jpg",1536,1024,true],"2048x2048":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2025\/02\/city-of-london-4481399_1920-1.jpg",1920,1280,false],"covernews-featured":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2025\/02\/city-of-london-4481399_1920-1-1024x683.jpg",1024,683,true],"covernews-medium":["https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2025\/02\/city-of-london-4481399_1920-1-540x340.jpg",540,340,true]},"author_info":{"display_name":"Cybersecurity Journalist Iain Fraser","author_link":false},"category_info":"REPORTAGE<\/a>","tag_info":"REPORTAGE","comment_count":"0","authors":[{"term_id":505,"user_id":1,"is_guest":0,"slug":"admin_yjdstq4n","display_name":"Cybersecurity Journalist Iain Fraser","avatar_url":{"url":"https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/10\/index_image440-removebg-preview.png","url2x":"https:\/\/smecyberinsights.co.uk\/wp-content\/uploads\/2024\/10\/index_image440-removebg-preview.png"},"author_category":"1","user_url":"http:\/\/smecyberinsights.co.uk","last_name":"Cybersecurity Journalist","first_name":"Iain Fraser","job_title":"","description":""}],"_links":{"self":[{"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/18698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=18698"}],"version-history":[{"count":18,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/18698\/revisions"}],"predecessor-version":[{"id":29276,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/18698\/revisions\/29276"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/media\/18699"}],"wp:attachment":[{"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=18698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=18698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=18698"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/smecyberinsights.co.uk\/index.php\/wp-json\/wp\/v2\/ppma_author?post=18698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}