London to Host Cyber "War Games" for Financial Firms
November 8, 2013 11:48 AM
comment(s) - last by
It's in preparation for cyber attacks on banks
Banks throughout London will be taking part in a
"war games" next Tuesday to see exactly how a real cyber threat would be solved.
, the war games is called "Waking Shark II," and it is the sequel to a similar event held two years ago. It will be held November 12, and thousands of staff across dozens of London financial firms will participate in the event.
Regulators and government officials are expected to play a part as well.
Waking Shark II will be co-ordinated by the Bank of England, the Treasury and Financial Conduct Authority.
The idea behind the war games is to see how prepared banks are when it comes to a cyber attack. Some of the challenges in the games will be to ensure the availability of cash from ATM machines, properly deal with a liquidity squeeze in the wholesale market, and to communicate and coordinate with authorities as well as each other.
also mentioned that there will be a strong focus on investment banking operations.
The results of the test will be released late this year or early in 2014.
Back in 2011, London conducted a similar test where a simulated cyber attack on wholesale and retail payments and online services took place. Eighty-seven firms took part in the event, including hedge funds, banks, asset managers and brokers, insurers and exchanges.
Also present were representatives from the Centre for the Protection of National Infrastructure (CPNI) and the Cyber Security Operations Centre (CSOC).
The U.S. has conducted a similar trial. A few months ago, New York hosted "Quantum Dawn 2" to simulate how firms would deal with a cyber attack in markets.
This article is over a month old, voting and posting comments is disabled
This should be an industry standard.
11/9/2013 2:56:19 AM
Set up an identical system and let people hack it. When you see someone succeed, you know what to do to stop it. Or at least ask them for advice on how to stop it.
“Then they pop up and say ‘Hello, surprise! Give us your money or we will shut you down!' Screw them. Seriously, screw them. You can quote me on that.” -- Newegg Chief Legal Officer Lee Cheng referencing patent trolls
United Kingdom Points Finger at Chinese Army for Increased Cyber-attacks
December 2, 2007, 3:24 AM
Twitter Senior VP: "Diversity is Important, But We Can’t Lower the Bar"
November 9, 2015, 9:59 AM
CNN Resorts to Internet Censorship to Promote Clinton Over Senator Sanders
October 15, 2015, 2:47 PM
Breaking Bad: How to Crash Google's Chrome Browser With Just 8 Characters
September 23, 2015, 11:08 AM
Quick Note: Amazon UK Offers £10 Back on Any Order £50 or Over
August 3, 2015, 12:05 PM
Editorial: Reddit Allows Itself to be Hijacked as a Hate Platform For Racist Bigots
July 21, 2015, 6:32 PM
Mozilla and Facebook to Adobe: It's Time to Kill Flash
July 20, 2015, 6:30 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2016 DailyTech LLC. -
Terms, Conditions & Privacy Information