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Sunday, August 18, 2013

Banks gird for battle against cyberattackers


It's a war game, Wall Street style.

Banks large and small are girding for an elaborate drill this week that will test how they would fare if hackers unleashed a powerful and coordinated attack against them.

The exercise is being called "Quantum Dawn 2," and if the name sounds like a video game, it's also meant to convey the seriousness of the threat.

Cyberattacks on the banking industry are growing more frequent and sophisticated and the list of assailants is ever-changing: crime bosses who want money, "hacktivists" who want to make political statements, foreign governments that want to spy on U.S. companies. A successful, widespread attack on the industry would shake confidence in the banking system, and the possibility has banks and regulators on edge.

Read more...Banks gird for battle against cyberattackers

Reuters: Business News

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