Government Plans Bank Hack for Security Test

Having your website hacked can give you a panicked feeling: you want to make sure your customers’ information is safe and that your products are still able to ship. Until a breach is fixed, it can cost you money. But what do you do about the worst kind of hack, the one that gives you a sinking feeling in the pit of your stomach? A bank hack.

The United States and the U.K. are attempting to test bank security by planning a deliberate hack. The internet is calling it the “war games,” which makes us think it’s a comical spin-off of the popular movie “The Hunger Games.” Though nothing to do with the film, the purpose of the hacks is to test the cyber defenses of each country. The Bank of England and the U.S. Federal Reserve are among those to be breached. The test will be led by the National Security Agency and GCHQ (the U.K.’s intelligence agency).

Why would the United States plan a deliberate hack on its own banks?

Some of the largest security breaches in history happened this past year. JPMorgan was a victim as well as Sony Pictures Entertainment. Credit cards all over the United States were compromised when using them at popular retail stores such as Target and The Home Depot. These attacks have been projected to increase this year, so the financial market segment should be on the defense. The President and security agency have weighed in on this and formulated a plan to hack major banks to develop a defense against it.

In the U.K., cyberattacks are considered a terrorism-level offense. Banks have great cyber security systems in place and are difficult to breach. Only professionals would be able to hack into a bank system, so this would be a highly criminal offense. The penetration testing that is going to be happening is necessary to keep these criminals out of the system and keep your money safe. Gaps that have been created before will be patched and any weak part will be tested and strengthened. There is a risk of taking a system down for a short period of time, but it is better to fix the problem before it turns into a serious threat.

Protect Your Business With Cybersecurity From Working Nets

At Working Nets, we know that handling the cybersecurity for a business while actually keeping that business running can seem impossible, especially in the daunting face of cyber-attacks against much larger businesses. Outsourcing your IT can give you peace of mind and allow you to take care of the things that are important for your company. Working Nets is a Maryland based IT Service and Security company that services small businesses nationwide. We’re always on top of emerging cybersecurity trends and threats so you don’t have to be.

To talk to someone about managed IT for your business, give us a call at (443) 992-7394. We’d be happy to assist you with your professional business networking needs.

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