We are working closely with the Treasury, financial authorities and other government agencies in the UK to help make sure the financial sector continues to work well and no harm comes to consumers and financial markets.

Given the situation, we are encouraging firms to consider how they can manage any associated risks. In particular:

  • the ability to withstand attack from a sophisticated state actor;
  • whether staffing levels are available to deal with an elevated cyber risk from state sponsored or other actors;
  • the implications on third party suppliers if there are sanctions; and
  • the resilience of third party suppliers.

The National Cyber Security Centre (NCSC) has published guidance outlining the actions organisations should take in response to the current situation in Russia and Ukraine. While the NCSC is not aware of any current specific cyber threats to the UK in relation to these events, organisations should be vigilant.  

The NCSC has also published more generalised guidance for firms of different sizes on their website: large organisations, small and medium sized firms, as well as microbusinesses and sole traders. We’d also encourage firms to review the NCSC’s Cyber Essentials scheme.

Full details about the sanctions imposed by the Treasury in response to the current situation are provided on the Treasury website.

We continue to monitor the situation closely and will update this page as necessary.