US financial sector group to test cyber attack defences


US financial sector group to test cyber attack defences

Warwick Ashford

A US financial services information sharing organisation is to run a major exercise to test the ability of payment processors to respond to cyber attacks.

The Financial Services Information Sharing and Analysis Center (FS-ISAC) has invited all payment organisations to take part in the three-day exercise scheduled to start on 9 February.

The FS-ISAC was set up in response to a 1998 Presidential security directive that mandated that the US public and private sectors share information on physical and cyber threats.

Participants will be expected to conduct a live response to each attack scenario and report back how well their procedures coped.

The exercise is aimed at enabling payment processors to evaluate their risk mitigation procedures and identify potential gaps in planning.

Responses will be anonymous, but will enable participants to learn best practices from others in the financial industry to improve incident response procedures, the FS-ISAC said on its website.

Two-thirds of the record 25 million new malware strains identified by Panda Security in 2009 were online banking Trojans, according to the security firm's latest annual research report.

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