UK banks are to test their cyber defences in an exercise called Operation Waking Shark 2 in mid-November.
The initiative, organised by the Bank of England’s Financial Policy Committee, will simulate a cyber attack on the payments and markets systems behind the nation’s financial institutions.
All high street banks are expected to take part in the exercise, which will assess their ability to defend against and counter a cyber incident.
US banks tested their defences earlier this year with a Wall Street simulation called Quantum Dawn 2.
The exercise, which was declared a success, involved 500 people from 50 financial services companies and government agencies.
How can you ensure that your business is protected against cyber attacks? Find out at The European Information Security Summit 2014.