UK finance regulator wants businesses to better prepare for IT meltdowns

Britain’s financial regulator, the Financial Conduct Authority (FCA) has advised institutions to better prepare themselves for disruptive IT meltdowns by strengthening their defences.

The warning follows the major Crowdstrike outage earlier in 2024, which affected 8.5 million Windows machines worldwide, and the FCA wants to make sure future incidents don’t bring the banking industry to a standstill.