“Cyber attacks aren’t a possibility, they are an eventuality”
The Bank of England (BoE) is conducting cyberattack war game exercises in order to test the resilience of the UK’s financial system in the wake of an attack.
The tests have been designed by the BoE with input from the Government Communications Headquarters’ (GCHQ)’s National Cyber Security Centre.
The Treasury, UK Finance and the Financial Conduct Authority are among the 40 agencies and enterprises taking part in the war games.
The Bank of England said in a release: “This exercise forms a vital part of the sector wide biennial process that seeks to ensure the industry is prepared for and can respond effectively to any major disruption stemming from a cyber Incident, protecting the financial system on which the public relies.”
“The exercise will help authorities and firms identify improvements to our collective response arrangements, improving the resilience of the sector as a whole.”