Nervous UK Bankers run Cyber Attack simulations

London banks are taking part in a simulated cyberattack exercise on Tuesday designed to test the resilience of the UK’s financial service industry to a collapse of telecoms systems and Olympics-related transport disruption.

The exercise is occurring against the real world backdrop of the Occupy the City protestors, camped outside the Square Mile. The joint Financial Services Authority, Bank of England and Treasury initiative involves staff from around 80 banks. An outline of the scenario to be played out on Tuesday by UK Financial Sector Continuity explains that the excise will look at responses to simulated cyber-attack and internet service disruption.