Comments On The Financial Industry’s Annual “Quantum Dawn” Exercise Highlights ‘Doomsday’ Cybersecurity Measures

The Securities Industry and Financial Markets Association has held its fifth exercise, in a series, simulating a catastrophic cybersecurity event in the banking sector, known as “Quantum Dawn.” The annual exercise provides valuable insight into what the financial services industry views as the most contemporary doomsday scenario and how major players are preparing for it. This year, in its first-ever global event, the industry focused on a fictional, widespread ransomware attack that takes out large financial institutions in Asia, the U.S. and U.K.

More on the story here: https://www.cnbc.com/2019/11/07/quantum-dawn-v-sifma-cyber-doomsday-exercise-adds-global-scope.html


EXPERTS COMMENTS
Ilia Kolochenko, Founder and CEO,  ImmuniWeb
November 08, 2019
Such an attack may be the disastrous end of a modern-day financial world that is unprecedently fragile.
This a laudable idea, other countries and industries shall definitely follow the example. I would, however, expand the scenario and consider breaches of trusted third-parties and governmental authorities. A large-scale ransomware attack, even if well-prepared and aimed against major financial institutions, is much less perilous than a campaign simultaneously targeting market regulators, news agenc ....
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