A nationwide cyber attack simulation exercise, planned by the Financial Services Sharing and Analysis Center, testing the security functions of online payments processes is scheduled to take place Feb. 9 -11.
The center, responsible for sharing information on cyber threats and risks with financial institutions and businesses, wants to raise awareness on cyber payment attacks in hopes of further educating businesses on response and recovery methods in the future.
The exercise will have participants activate their own internal response procedures based on the scenario received. Afterwards their response will be evaluated by the center and recommendations for areas to improve and lessons to be learned will be shared with participants.
Planning and promotion of this exercise has already gained national support from dozens of financial institutions and businesses.