Financial services industry tests infrastructure in bombs exercise

The UK financial services industry tested its disaster response and recovery plans yesterday.

The UK financial services industry tested its disaster response and recovery plans yesterday.

A major simulated exercise involving the Financial Services Authority (FSA), the Bank of England and the UK Treasury was used to test the industry's response to possible attacks.

A series of simulated explosions in London were followed by reports of explosions in other parts of the country, to test how the financial industry’s infrastructure coped.

Around 80 financial companies, including banks, insurers and brokers, took part in the tests.

A secure internet site was activated as part of the response in the desk-based exercise.

The site allowed the authorities to discuss tactics, including the co-ordination of emergency services, the deployment of key IT personnel and staff evacuations.

Accounting firm KPMG was used to monitor the exercise and will release its findings into the industry’s response early next year.

The financial services sector has stepped up its security arrangements following this summer’s London terrorist bombings.

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