Banks in London and New York will simulate a massive cyberattack on their computer systems later this year as part of joint war games run by the US and UK governments.
The exercise, designed to test the institutions’ resilience, is part of a new program of cooperation against cybercrime and terrorism in the wake of the hacking of Sony Corp last year. The US has blamed North Korea for the attack, which led to internal documents being posted online.
A trans-Atlantic “cyber cell” will be established at which US and UK computer-security experts will share information and coordinate their response to attacks.
Photo: EPA
“We must work together to defend ourselves from new threats like cyberattacks,” British Prime Minister David Cameron said in a statement announcing the move in Washington, where he was holding talks with US President Barack Obama.
“This is an evolving threat which poses a real risk to our businesses and that’s why we’re taking our cooperation with the US to an unprecedented level. This is about pooling our effort so we stay one step ahead of those who seek to attack us,” he said.
Cameron was due to discuss economic cooperation with Obama over dinner at the White House before turning to security in a meeting on the second day of his visit.
The two leaders are set to talk about how to fight terrorism, both in the form of the Islamic State in Syria and the Levant, and at home. Cameron wants US Internet giants such as Facebook and Twitter to do more to stop extremists from communicating, and is looking for ways to get them to share suspicious messages.
The first cybersecurity simulation will involve agencies from both countries, as well as the Bank of England and commercial institutions. It will be followed by further exercises to test the durability of critical national infrastructure systems.
A report yesterday by Government Communications Headquarters (GCHQ), the UK’s code breakers, said four out of five large British companies reported a security breach last year, with costs ranging from ￡600,000 (US$913,000) to ￡1.5 million.
“It’s a real threat. This figure, that eight out of 10 of the larger companies in Britain have been attacked, is significant,” Cameron told reporters in Washington. “There have been some very serious attacks.”
Since 2012, the UK has operated a secret cybersecurity control center known as the “Fusion Cell,” where experts from the intelligence services and computer security staff from some of Britain’s largest companies work together to counter hacking attempts.
In the US, the National Security Agency and the FBI are running their own cyber cell. That will now be matched by one in the UK, staffed from MI5 and GCHQ.
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