Call us now:
Its a bit late, but for those of you who haven’t seen it. The Bank of England has published a report last week, following the 2018 SIMEX test, designed to test the financial services industry response to a cyber attack.
Some interesting observations came out of the exercise, namely that the difference in risk tolerances for suspending services by banks varied significantly. This could have unintended consequences on corresponding banks. Differences in the way data is stored (and no doubt configured) would make it difficult for participant to rescue a paralyzed bank.
It would be great to see the underlying test data to analyse the defectiveness of those who took part.
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