Thailand participates in train simulating cyber-attack on international financial system

Thailand is one of 10 countries to participate in a simulation exercise that mimicked a cyber-attack on the global monetary system. According to a Reuters report, the exercise was led by Israel, with the intention of constructing on cooperation between international locations to mitigate potential injury to world markets and financial establishments.
The train was named, “Collective Strength” and included officials from Thailand, the United States, the United Kingdom, the United Arab Emirates, Austria, Switzerland, Germany, Italy, and the Netherlands, as properly as delegates from the International Monetary Fund, the World Bank, and Bank of International Settlements.
According to the Reuters report, the faux cyber-attack happened over the course of 10 days and concerned fake information reviews and delicate data showing on the Dark Web, simulating sending international markets into meltdown and inflicting a run on banks. Several kinds of cyber-attack have been simulated, with global foreign exchange and bond markets, liquidity, integrity of information and transactions between importers and exporters all affected, in accordance with Reuters.
The Israeli authorities says such threats should be taken critically and viewed as very actual dangers, given current well-documented cyber-attacks on massive corporations. Template from the country’s Finance Ministry, says damage limitation can solely be achieved by way of nations working collectively, as internet security may not at all times be robust enough to protect towards each risk.
“Attackers are 10 steps forward of the defender.”

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