Twenty-four financial organizations from countries comprising the Group of Seven (G7) nations will reportedly simulate a major cross-border cyberattack on the financial sector next month.
The exercise will present a scenario in which malware infects a technical component that is commonly used in the financial sector, according to a Reuters report citing Nathalie Aufauvre, director general for financial stability at the Bank of France, which is organizing the three-day exercise.
The simulation will be the first of its kind at the G7 level, Aufauvre reportedly said at a cybersecurity conference held at the bank last Friday.
Participating organizations will include central banks, market authorities, finance ministries and private sector representatives. The G7’s members are Canada, France, Germany, Italy, Japan, the U.K. and the U.S.