Financial industry event will test response to cyber attacks

Banks, card processors and others are invited to participate in three-day exercise to test their response processes to various cyber attacks

The Financial Services Information Sharing and Analysis Center is inviting banks, card processors, retailers and others to participate in an exercise to test their response to various cyberattacks against payment processes.

The three-day event begins Feb. 9 and will simulate a different attack scenario each day, according to information posted on the FS-ISAC website. The exercise is designed to test organizations' emergency response, notification and communication procedures.

Financial institutions, corporate treasurers, card processors, third-party service providers, and government entities are invited to participate in the exercise free of charge. According to FS-ISAC, participants only need an Internet connection and email to participate. Each day, participants will receive a scenario in the morning and will be required to complete a survey.

Data collected from the exercise will be available to participants; all company information will be kept confidential.

The American Bankers Association, NACHA, and the Association for Financial Professionals are among the groups partnering with FS-ISAC on the event

By participating, organizations can identify gaps in their risk mitigation procedures, raise employee awareness about cyber attack response procedures, and learn best practices for incident response, according to FS-ISAC.

Registration information is available at the FS-ISAC website.

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