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Volume 30, Issue 1

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Thursday, 15 August 2013 15:14

Cyber Business Continuity Needs Broad and Deep Together

In mid-July 2013, several of New York’s Wall Street firms participated in an exercise to test their resilience in the face of cyber-attacks. The initiative was coordinated by SIFMA, the Securities and Financial Markets Association, and included commercial financial companies, as well as the U.S. Treasury Department. Financial institutions in the US have been subjected recently to massive attacks centred on distributed denial of service (DDoS). DDoS attacks render systems inaccessible for normal use, either by generating floods of traffic to use up all the network bandwidth for the system, or by overloading the application itself. Given that such attacks are not specific to the financial arena, where else might such tests need to be done?