“In a speech at the British Bankers’ Association, Andrew Gracie, Executive Director, Resolution, at the Bank of England, formally launched a new framework to help identify areas where the financial sector could be vulnerable to sophisticated cyber attack. This is part of the Bank of England’s response to the Financial Policy Committee’s recommendation to test and improve resilience to cyber attacks.
The new framework called CBEST uses intelligence from Government and accredited commercial providers to identify potential attackers to a particular financial institution. It then replicates the techniques these potential attackers use in order to test the extent to which they may be successful in penetrating the defences of the institution. On completion of the test there will be workshops for the firm to work through the results with the testers and supervisors.”
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