Nikhil Rathi, Chief Executive of the Financial Conduct Authority (FCA), has warned that the UK’s financial system is “not prepared” to withstand the growing wave of geopolitical and cyber threats facing the global economy.
Speaking at the City Dinner at Mansion House in London, Rathi said the impact of modern conflict now reaches “balance sheets, funding, markets and consumers as much as any battlefield.”
“Whether it’s a cyber-attack or a production shock – they move yields and test confidence,” he said. “And we are not prepared, tactically or strategically.”
Rathi’s warning comes amid escalating geopolitical tensions and repeated cyber incidents targeting financial infrastructure, including attacks on ATMs, payments systems and shipping routes such as the Red Sea corridor.
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