19 Dec 2019

Security breach at Bank of England as seconds of audio offered traders crucial advantage

Just a few seconds –  enough time to give hedge fund traders a crucial advantage.

The Bank of England has admitted that an audio feed of some press conferences by governor Mark Carney was leaked before the official video was broadcast – meaning traders could have got access to his comments between five and eight seconds early.

Hugely embarrassing for a bank that’s all about keeping its information strictly controlled, like today’s announcement on interest rates – which journalists were told in a locked room.