Bank of England Coming Under (Simulated) Cyber Attack

By Gary Cutlack on at

The Bank of England, the Financial Services Authority and the Treasury have been playing war games this week, launching simulated cyber-attacks on banking systems to... see what would happen.

According to the FSA, the event, which it called the Market-wide Exercise, amounted to a pretend "concerted cyber attack on the financial sector" and involved some 5,000 staff members from various financial institutions, all panicking that Twitter might stop working for five minutes.

The test was created to test the banking system's "dependencies on telecommunications and the internet," checking how it would cope in the event of an internet collapse, seeing how small businesses would manage and even monitoring how the public transport network would hold up, should such an attack be timed to coincide with the London 2012 Olympics. [FSA via ZDNet]