‘Quantum Dawn 2’ Exercise to Test Cyber Security

Financial institutions will put their cyber security systems to the test during a national cyber attack simulation Thursday. The drill is being organized by Wall Street’s biggest trade group, the Securities Industry and Financial Markets Association (SIFMA). It’s not immediately known whether any Northwest financial services providers are taking part, but some of the nation’s largest banks have signed up, as have government agencies including Homeland Security and the FBI.

The drill, called “Quantum Dawn 2” follows a wave of “hacktivist” attacks last fall. Hackers overloaded bank websites with too much traffic, forcing a temporary shutdown of some sites.

Nuisance pranks disrupting service and causing inconvenience for consumers have become more widespread even in the past year, causing the government and financial services industry to prepare for more serious threats. President Barack Obama warned of attacks on the banking system in this year’s State of the Union speech, and he’s met with banking and business leaders to discuss the threat.

“Quantum Dawn 2 is a cybersecurity exercise to test incident response, resolution and coordination processes for the financial services sector,” according to SIFMA’s website. “We expect this exercise to improve the readiness of sector as a whole to respond to a street-wide cyber attack and allow each participating firm to test their internal coordination mechanisms and processes to maintain business resiliency.”

 

Questions? Contact Lynn Heider: 503.350.2225, lheider@nwcua.org.

Posted in Advocacy News, Events, Federal, NWCUA.