The Bank of England (BoE) has come under scrutiny after it was revealed to have lost or had stolen over 300 remote working devices in the past three years, with an estimated total value approaching £300,000.
The figures, obtained through a Freedom of Information (FOI) request, show that 333 laptops, mobile phones, and tablets went missing or were stolen during this period.
Specifically, 216 laptops were reported lost, collectively valued at approximately £3,114. Additionally, 109 mobile phones — worth an estimated £1,737 — and 8 tablets, valued at around £2,294, were reported missing.
“The BoE is blundering towards a major security disaster,” said Patrick Sullivan, CEO of the Parliament Street think tank. His remarks highlight concerns over the potential implications of such losses in an environment where sensitive financial data is at risk.
“The Bank of England manages highly confidential, market-sensitive data. With remote and hybrid working now common, it’s critical that all devices are properly secured and can be quickly retrieved if lost or stolen. Every device is a treasure trove for cybercriminals, and mishandling such assets could have serious detrimental consequences,” said Furthermore, digital forensics expert John Lucey, Vice President EMEA at Cellebrite.
The incident raises questions about the security protocols in place at one of the UK’s most important financial institutions, emphasizing the need for stricter device management and data security measures in an increasingly remote working environment.
