City firms focus on business continuity as Iraq war increases terrorist threat

The threat of terrorist attacks in response to US and UK military intervention in Iraq has highlighted the need for financial institutions operating in the UK to have suitable business continuity arrangements, a senior UK regulator said in March.

Simon Ashby, a policy adviser on operational risk at the Financial Services Authority (FSA), the UK's chief financial sector watchdog, told Operational Risk the threat of reprisals from Islamic fundamentalist or pro-Saddam Hussein terrorist groups was something the FSA expected firms to consider.

Indeed, a survey conducted in February by UK security consultants Reliance Security found that 41% of the financial community view terrorist attacks as "extremely important" threats to their

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