Thailand participates in exercise simulating cyber-attack on world monetary system

Thailand is certainly one of 10 international locations to take part in a simulation train that mimicked a cyber-attack on the worldwide financial system. According to a Reuters report, the exercise was led by Israel, with the intention of building on cooperation between countries to mitigate potential injury to world markets and monetary establishments.
The train was named, “Collective Strength” and included officers from Thailand, the United States, the United Kingdom, the United Arab Emirates, Austria, Switzerland, Germany, Italy, and the Netherlands, in addition to delegates from the International Monetary Fund, the World Bank, and Bank of International Settlements.
According to the Reuters report, the faux cyber-attack occurred over the course of 10 days and concerned faux news reviews and delicate information showing on the Dark Web, simulating sending international markets into meltdown and inflicting a run on banks. Plain of cyber-attack had been simulated, with international foreign exchange and bond markets, liquidity, integrity of information and transactions between importers and exporters all affected, according to Reuters.
The Israeli government says such threats must be taken significantly and seen as very actual risks, given recent well-documented cyber-attacks on large firms. Micha Weis from the country’s Finance Ministry, says injury limitation can only be achieved through nations working collectively, as web security might not all the time be robust enough to guard towards each risk.
“Attackers are 10 steps forward of the defender.”

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