European banks and industry trade associations have been testing their ability to tackle cyber threats with a WannaCry-style war game simulation. The exercise was organised after the Financial Services Information Sharing and Analysis Centre said AI would be increasingly used in ransomware creation. Security officials from 14 organisations took part in the simulated attack, observed by retail and investment banks, wealth management firms and financial services companies. The exercise, hosted by UBS, encouraged collaboration and a first exercise is planned for June 2019.
European banks and industry trade associations have been testing their ability to tackle cyber threats with a WannaCry-style war game simulation. The exercise was organised after the Financial Services Information Sharing and Analysis Centre said AI would be increasingly used in ransomware creation. Security officials from 14 organisations took part in the simulated attack, observed by retail and investment banks, wealth management firms and financial services companies. The exercise, hosted by UBS, encouraged collaboration and a second exercise is planned for June 2019.