Banks and financial firms in Britain will be taking part in a cyber “war game” today to test their defences against the ever growing threat of cyber attacks.
The simulation, also known as ‘Waking Shark II’ – is expected to be one of the largest of its kind, involving teams across dozens of banks and other city institutions. The simulation will be overseen by officials from the Bank of England, the Treasury and Financial Conduct Authority.
Whilst details of the simulation have been kept secret, it’s expected that it will concentrate on how these banks cope with a sustained attack. The scenario which will be played out has been rumoured to include a real time threat where firms will be hit by a barrage of announcements and attacks on computer systems, as well as social media.
The UK’s banking sector has been questioned about its ability to defend itself against a cyber attack based on the risks arising from outdated and complex IT systems and its reliance on centralised infrastructure, such as payment systems and clearing houses.
When is the last time you tested your network for vulnerabilities? Conducting regular penetration tests on your networks is the best method of finding your weaknesses before hackers do.
If you’d like to learn more about Penetration Testing then I advise you take a look at the IT Governance Penetration Testing Information Page.