A group of 10 countries led by Israel on Thursday simulated a digital attack that would turn the international financial system upside down within ten days, reported to “Reuters”. The simulation expected, among other details, to spread false news, expose sensitive data on the so-called “dark web” and run on banks.
In a simulation of “collective power” (originally “collective power”), representatives of the ministries of finance participated in videoconferences. Israel, the United States, the United Kingdom, the United Arab Emirates, Austria, Switzerland, Germany, Italy, the Netherlands, and Thailand. Representatives from the International Monetary Fund and the Bank for International Settlements also participated in the initiative, which aims to raise awareness of the need for cooperation for the global cybersecurity of the financial system.
In response to this simulation, the EU representative said, according to the agency, that “there will be an emergency meeting on the same day” if that happens, acknowledging a quicker reaction from countries to try to control an attack of this kind. He confirmed that they would not wait 10 days for a response.
According to the simulator’s promoters, any attack of this nature must have a high level of sophistication to achieve those effects. The simulation defines the agency It included attacks on various parts of global finance such as the foreign exchange and bond markets, the liquidity centers of banks and individuals, and the possibility of import and export transactions.
In this meeting in Jerusalem, in which “Reuters” was present, possible solutions to this type of massive attack were discussed, such as coordinated holiday organization, debt moratorium, short-term liquidity solutions as well as markets.repo“NS”swap, barterAnd the coordinator decoded the index against the reference currencies, according to “Reuters”.
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