Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department is taking steps to monitor the potential threat posed by Chinese-made cellular internet of things modules on finance infrastructure.

The UK takes its national security extremely seriously, including the security of its critical infrastructure and all sectors of the economy. We encourage all organisations to follow National Cyber Security Centre and National Protective Security Authority supply chain security guidance when selecting a technology supplier. This guidance sets out the considerations that organisations should be making during the procurement process.

For the finance sector, the Bank of England, the Prudential Regulation Authority and the Financial Conduct Authority have set clear expectations for how regulated firms should manage the risk posed by third parties.