NatWest is fending off around 100 million cyber attacks every month, according to the bank’s head of cyber security, Chris Ulliott. Speaking to Members of the Scottish Parliament, Ulliott revealed the staggering scale of the threat landscape facing the UK banking giant, with attackers constantly testing the strength of its defences.
Ulliott noted that approximately one-third of the millions of emails received by the bank each month are blocked outright because they are identified as potential cyber attack entry points targeting NatWest staff. The institution has responded with a sizeable investment in cybersecurity, including hundreds of dedicated personnel and a multi-million-pound annual budget.
The evolving nature of cyber threats, especially with the rise of artificial intelligence, adds a further layer of complexity to the bank’s security operations. Ulliott warned that AI could accelerate the sophistication and scale of future attacks.
He also referenced the hacking group Scattered Spider, thought to be responsible for the recent cyber assault on Marks & Spencer. Ulliott suggested the group is likely an informal global network of individuals in their teens and 20s who collaborate through online forums to share hacking techniques and launch coordinated attacks.
As digital threats intensify, NatWest’s frontline cyber defence continues to face mounting pressure in an ever-changing technological landscape.