Thailand participates in exercise simulating cyber-attack on global monetary system

Thailand is certainly one of 10 nations to participate in a simulation train that mimicked a cyber-attack on the worldwide monetary system. According to a Reuters report, the train was led by Israel, with the intention of building on cooperation between nations to mitigate potential injury to world markets and monetary establishments.
Accredited was named, “Collective Strength” and included officials from Thailand, the United States, the United Kingdom, the United Arab Emirates, Austria, Switzerland, Germany, Italy, and the Netherlands, in addition to delegates from the International Monetary Fund, the World Bank, and Bank of International Settlements.
According to the Reuters report, the pretend cyber-attack happened over the course of 10 days and concerned pretend news reports and sensitive information showing on the Dark Web, simulating sending international markets into meltdown and causing a run on banks. Several types of cyber-attack had been simulated, with world foreign trade and bond markets, liquidity, integrity of data and transactions between importers and exporters all affected, according to Reuters.
The Israeli government says such threats have to be taken seriously and considered as very real risks, given current well-documented cyber-attacks on giant firms. Micha Weis from the country’s Finance Ministry, says harm limitation can only be achieved by way of countries working together, as internet security could not always be sturdy enough to guard against every risk.
Economical are 10 steps forward of the defender.”

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