Feeds

Bank of England plans to shove cyber-microscope up nation's bankers

BoE and pals will use govt intelligence to stage pen-tests at financial powerhouses

Intelligent flash storage arrays

The Bank of England today announced it plans to penetrate Blighty’s banks to test the security of their critical computer systems.

Speaking to the British Bankers’ Association, the BoE's exec director of resolution, Andrew Gracie launched CBEST [PDF], a new defence-testing programme that mimics crims who attack crucial networks.

CBEST will use info gathered by the government and security firms get an idea of what makes a modern cyber-robber, and replicate the techniques they use to try to break into British banks. Financial firms will be tested under the framework to figure out where they’re vulnerable, and will then get access to analysts and experts to help them tighten up their security.

“The idea of CBEST is to bring together the best available threat intelligence from government and elsewhere, tailored to the business model and operations of individual firms, to be delivered in live tests, within a controlled testing environment,” Gracie said.

“The results should provide a direct readout on a firm’s capability to withstand cyber-attacks that on the basis of current intelligence have the most potential, combining probability and impact, to have an adverse impact on financial stability.”

The idea is that attacks orchestrated by BoE will be more realistic than the ones the lenders organise to test themselves, because they’ll be planned using more up-to-date information.

The framework was established with the help of UK startup Digital Shadows, security kit vendors and CREST (not to be confused with CBEST) in response to recommendations from BoE's Financial Policy Committee – which said regulators needed to look at computer security risks in more detail and improve resilience to attacks. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.