Cyber Warfare Simulation Launched by UK Banks and Financials

By April 22, 2014 08:17 GMT


UK Banks and Financials Launch Cyber Warfare Simulation Tests

UK Banks and Financials Launch Cyber Warfare Simulation TestsReuters

Around 20 British banks and financial firms will undergo a major round of cyber warfare simulations in a bid to test their resilience against hacking attacks.

The Bank of England (BoE) is set to oversee the exercise, like it has done before, say media reports.

The Financial Times said that Andrew Gracie, director of the UK’s special resolution unit within the BoE, will oversee the operation to test the resilience of Britain’s biggest financials to cyber-attacks.

The exercise is the latest in a long line of now-routine cyber warfare simulations to find weak spots in corporate anti-hacking processes and systems.

Thousands of staff from various banks and other financial firms will take part in the exercise as a war game scenario is played out. Continue reading