IMF And 10 Countries Simulates A Cyberattack On The Global Financial System

IMF, the World Bank and 10 countries take part in a simulation of a cyber attack on global financial system. © Reuters/AMMAR AWAD 

 Reuters: Exclusive-IMF, 10 countries simulate cyberattack on global financial system 

JERUSALEM (Reuters) - Israel on Thursday led a 10-country simulation of a major cyberattack on the global financial system in an attempt to increase cooperation that could help to minimise any potential damage to financial markets and banks. 

The simulated "war game", as Israel's Finance Ministry called it and planned over the past year, evolved over 10 days, with sensitive data emerging on the Dark Web. 

The simulation also used fake news reports that in the scenario caused chaos in global markets and a run on banks. 

The simulation -- likely caused by what officials called "sophisticated" players -- featured several types of attacks that impacted global foreign exchange and bond markets, liquidity, integrity of data and transactions between importers and exporters.  

Read more ....  

Update: Israel said to lead 10-country simulation of major cyberattack on world markets (Times of Israel)  

WNU Editor: The biggest problem they discovered from this simulation was on how all governments found themselves in the impossible position to clarify/explain to the public why the global financial system was paralyzed. 

No kidding. 

 What can you say to your citizens that the financial system that everyone is dependent on is no longer working while trying to avoid mass panic at the same time.

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