TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

With simulated attack, Wall Street to prep for virtual threats

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Los Angeles Times
Wednesday, July 3, 2013, 12:01 a.m.
 

Wall Street firms are preparing to battle a growing menace: cyberattacks.

The Securities Industry and Financial Markets Association, a major financial industry group, will coordinate a July 18 simulated cyberattack with about 50 firms in an exercise called Quantum Dawn 2. Exchanges, the Treasury and the Department of Homeland Security will participate in the exercise, a sequel to a 2011 simulation.

“We've been under attack as a sector for the last nine months,” said Karl Schimmeck, the trade group's vice president of financial services operations. “... We know things are possible.”

The financial industry has weathered its share of such attacks in recent months as officials have become increasingly alarmed over computer-launched onslaughts by other nations, terrorists and hackers. Top military and intelligence officials have said the cyber threat now outranks al-Qaida.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Energy sector adjusts to global oil plummet
  2. Real estate union: Howard Hanna buys Langholz Wilson Ellis
  3. Agriculture prospects envisioned in Cuba
  4. ‘Staff Pick’ is golden ticket on Kickstarter
  5. Kim Komando: Can you get a virus on your smartphone?
  6. Mind the time: Optimize last-minute shopping
  7. Drought opens Texas ranchers’ eyes to income options
  8. 3 tips to use up health account funds
  9. Makers of wine corks have lost ground to screw tops
  10. EPA says it won’t regulate coal ash as hazardous waste
  11. ‘Cause for Paws’ telethon helps dogs find homes
Subscribe today! Click here for our subscription offers.