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News Now

Washington
Cyberattack simulations webinars available for FIs
WASHINGTON (8/28/14)--Two identical, two-day cyberattack simulation exercises will be hosted by the Financial Services Information Sharing and Analysis Center (FS-ISAC) in September.

The annual free Cyberattack Against Payment Processes (CAPP) exercises are held in conjunction with the Payments Risk Council. This is the third year of the program.

Over a two-day period, a simulated attack will take place on payment processes to help organizations assess readiness in the event of such an attack. These events help the industry identify ways to prevent, detect and respond to cyberattacks against payment processes.

According to FS-ISAC, the exercises are meant to:
  • Evaluate current risk mitigation procedures related to cyberattacks and identify potential critical gaps in planning;
     
  • Engage in a live test of an incident response team's ability to respond to major incidents;
     
  • Raise awareness and educate staff regarding procedures to respond to complex threats;
     
  • Benchmark your business practices based on the responses of other firms;
     
  • Develop appropriate risk mitigation recommendations in response to the types of attacks used in this exercise; and
     
  • Receive an after-action report highlighting lessons learned from the exercise and category benchmark results.
Participants can choose from one of the two free sessions, one on Sept. 9 and 10, with a registration deadline of Sept. 5, and the other on Sept. 16 and 17, with a registration deadline of Sept. 12. The exercise is scheduled to take approximately an hour each day.

The simulations were announced by Federal Reserve Financial Services, which is the portal to national financial services for depository institution customers of the Federal Reserve System.

Use the resource link below for more information.

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