Bank of England publishes Waking Shark II cyber security exercise results
From: ComputerWeekly.com
The Bank of England has published findings from its Waking Shark II security exercise, which tested the financial sector’s contingency plans for cyber attack.
The Bank of England report showed progress had been made since previous exercises, and said the industry had demonstrated communication and co-ordination across different financial agencies.
The Waking Shark II cyber security exercise, held on 12 November 2013, was a rehearsal for the wholesale banking sector, including investment banks and key financial market infrastructure.
Waking Shark II was organised by the Securities Industry Business Continuity Management Group, which designed a scenario in which a cyber attack caused disruption to wholesale markets and the financial infrastructure supporting those markets.
It involved participants from investment banks, financial market infrastructure, the financial authorities and the relevant government agencies. The exercise tested the communication between firms and between companies and the authorities. It aimed to improve understanding of the impact of a cyber attack on the participants and the wider financial sector.
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