Hackers to Probe Cybercrime Defenses at British Banks

Within the subsequent few months hackers will attempt to penetrate the cyber defenses of Britain’s main banks and steal details about tens of millions of consumers. However for as soon as they will be welcome. Banks are on pink alert after cyber criminals obtained particulars of eighty three million shoppers from JPMorgan Chase this yr and Britain’s main lenders have signed up for checks that permit groups of licensed hackers assault at will. The cyber warfare video games will mark a serious escalation in how banks check defenses in a excessive-stakes battle with criminals. "It is the primary time that banks are having their techniques examined for safety threats in a reside setting versus a simulated or remoted one," stated Stephen Bonner, a associate within the cyber safety staff at KPMG. Cyber crime prices the worldwide financial system $445 billion a yr and the invoice is rising, in accordance with the Middle for Strategic and Worldwide Research (CSIS), which stated it damages commerce, competitiveness and innovation throughout industries. Banks are notably weak, regardless of spending a whole lot of tens of millions of dollars a yr on cyber defenses. More and more refined criminals try to steal cash or shopper knowledge, trigger havoc in monetary markets or rating political factors.

IN-DEPTH

— Reuters

First revealed November 19 2014, eight:03 AM