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25 Oct 13. UK regulators oversee a test of the financial sector’s
ability to deal with electronic threats next month, they will be assessing the effect of a major cyber attack on banks’ security systems.
The test will be led by an outside consultant and will be monitored by the Bank of England, the Financial Conduct Authority and the Treasury. Its outcome will likely be studied at the very highest levels of the BoE. In recent months, many of the central bank’s top officials have become increasingly worried about the threat of cyber crime as a risk to the global financial system. For some banks the perceived risk has risen to beyond that of the eurozone debt crisis, with five of the UK’s largest banks rating it one of their top priorities, according to Andrew Haldane, executive director of financial stability at the BoE. “This is a rapidly rising area of risk with potentially systemic implications. It calls for a system-wide response,” he told members of parliament in June. In its latest survey of systemic risk trends, nearly a quarter of the 76 participants named operational risk as one of their biggest concerns, where cyber security was most frequently mentioned. Adobe revealed that attackers compromised 2.9m customer accounts, including their encrypted credit and debit card detailsThat is the highest level yet recorded since the biennial survey began in 2009, and has risen 10 percentage points to 24 per cent since the last survey in October 2012. (Source: FT.com)
23 Oct 13. The US Army could play a distinctive role in staffing US Cyber Command’s (CYBERCOM’s) emerging Cyber Mission Forces teams. “There is a unique convergence in the land domain, of which the army is the key
stakeholder, between the cyber [domain] and the person – every person has two or three [cyber-capable] devices and that’s permeating,” Brigadier General George Franz, CYBERCOM’s director of current operations (J-33), said during a 23 October briefing at an Association of the US Army (AUSA) conference. (Source: Jane’s)
28 Oct 13. Sigma joins the Niteworks partnership. Niteworks confirmed Sigma as the latest company to become an associate member. Sigma specialises in Collaborative Working (CW) between the customer and the
major Prime contractors and their supply chains. As subject matter experts in CW, Sigma provides advice, facilitation workshops and training in a range of subjects covering Customer Relationship Management, Commercial and Supply Chain management, Pre- Contract and Business Winning together with CW for bilateral and alliance type relationships. Sigma is well known for its work on many of the large complex programmes with the MOD, Rail and Nuclear sectors.
28 Oct 13. A British man has been arrested in England and charged by
the United States and Britain with hacking into U.S. government computer systems, including those run by the military, to steal confidential data and disrupt operations, authorities said. Lauri Love and three co-conspirators allegedly infiltrated thousands of systems including those of the Pentagon’s Missile Defense Agency, the U.S. Army Corps of Engineers, the U.S. space agency NASA and the U.S. Environmental Protection Agency, according to a U.S. grand jury indictment made public on Monday. Love, 28, and the unnamed co-conspirators, including two in Australia and one in Sweden, then left “back doors” in the networks to later retrieve data, and intended that their activity “disrupt the operations and infrastructure of the United States government,” according to the indictment. “Such conduct endangers the security of our country and is an affront to those who serve,” U.S. Attorney Paul Fishman in New Jersey, who announced the charges, said in a statement. Love was charged in Britain with violating the Computer Misuse Act, and charged in the United States with accessing a U.S.