Global stress test shows organisations can't tackle cyber-threats alone

By Chandu Gopalakrishnan for SC Media
Monday, November 11, 2019

• 2.2k
• More

"Quantum Dawn V was not a pass/fail test but rather an opportunity for participants to interact across functions internally and with partners externally, both locally and globally, and to exercise their crisis response and communications plans," read the fact sheet of the test.

"This a laudable idea," said Ilia Kolochenko, founder and CEO of web security company ImmuniWeb. "Other countries and industries shall definitely follow the example."

However, he suggested expanding the test scenario by including 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 agencies and law enforcement agencies," he said.

SC Magazine UK wrote in August about how the financial services remain low-hanging fruits for cyber-criminals, after the Capital One data breach came to light. A survey of 100 senior business decision-makers in the UK by data security company Clearswift showed that 70 percent of financial companies faced a cyber-security incident. Read Full Article