The Bank of England has published a report on the Waking Shark II cyber security exercise that took place on November 12, 2013. The exercise, which aimed at testing the response of the British financial industry to cyberattacks, has been a success.
However, there are some areas that could be improved. For instance, the Bank of England says that a single coordination body from the industry should manage all communications during a cyberattack.
Furthermore, during the exercise, participants failed to report the incident to law enforcement authorities, which they should have, considering that such attacks are a criminal offense.
The Cyber-Security Information Sharing Partnership (CISP) platform must be continually enhanced through collaboration between the government and firms.
The complete report on the Waking Shark II exercise is available on the Bank of England’s website.