Cyber war games dubbed 'Waking Shark II' begin for London's financial institutions
A number of scenarios will test banks' responsiveness to cyber attacks
Tuesday 12 November 2013
Banks and stock exchanges in London today will be testing their cyber security with a series of “war games” co-ordinated by financial regulators and government officials.
The operation, dubbed “Waking Shark II”, will be one of the largest ever conducted, with dozens of financial institutions taking part. The tests will be overseen by the Bank of England, the Treasury and Financial Conduct Authority.
Bank staff will have to respond to a number of simulated cyber-attacks and find solutions to various problems including how to ensure the availability of cash from ATM machines and cope with a liquidity freeze in the wholesale market.
A previous exercise named “Waking Shark” was conducted two years ago by the Financial Services Authority whilst a pair of similar war games (“Quantum Dawn” and “Quantum Dawn 2”) have been carried out on Wall Street in the US.
“These kinds of exercises provide a good opportunity to put people and organisations through their paces, much like the army does when practising manoeuvres,” said David Emm, a researcher at Kaspersky Lab said.
“They can never be a substitute for a real-life attack. But they can however force people to think about the situation they are faced with and what they would do in that very moment,” said Emm.
However, other security experts have criticized the operation for focusing only on digital methods and ignoring scenarios involving coordinated physical attacks, such a malware-infected USBs sticks that introduce viruses to banks’ systems via unsuspecting employees.
A report on the test’s findings are expected to be released in early 2014.
Life & Style blogs
Babies cry at night to stop mothers procreating, scientists claim
Naked yoga: the bare truth - it's already big in the US, and has now landed here
GTA 5 Online spring DLC updates bring heists, new super car, multiple apartments and 'non-contact' option for races
Leading doctor calls for inquiry into NHS treatment of whistle-blowers
Kim Jong-ale: How did Ushers brewery of Trowbridge end up in North Korea producing Pyongyang's number one beer - and what did it take to set up a taste test back in Wiltshire?
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
Refugee facing deportation from Sweden saved by fellow passengers refusing to let plane leave
- 1 KFC 'sorry' after lesbian couple are kicked out of Bath restaurant for 'heavy petting'
- 2 West Ham confirm 20-year-old striker Dylan Tombides has died after battle with cancer
- 3 24 people applied for the 'world's toughest job', here are their interviews
- 4 Video of British Muslims dancing to Pharrell Williams's hit Happy attacked as 'sinful'
- 5 PFA Player of the Year: Luis Suarez, Daniel Sturridge and Steven Gerrard all nominated as Liverpool dominate award shortlist
iJobs Gadgets & Tech
£150.00 per week: QA Apprenticeships: This company is a company that specializ...
£153.75 per week: QA Apprenticeships: This company is an innovative outsourcin...
£150.00 per week: QA Apprenticeships: We've been supplying best of breed peopl...
£150.00 per week: QA Apprenticeships: We provide business administration softw...