About 50 institutions — including banks like JPMorgan Chase (JPM, Fortune 500) and Bank of America (BAC, Fortune 500) — will participate in the exercise, called “Quantum Dawn 2.”
Several government agencies, including the U.S. Treasury, will observe the drill.
The idea is to simulate what would happen if hackers penetrated certain systems in financial companies and agencies. If breached, infections could, in theory impact the entire gamut of the sector from exchanges to brokerages to insurance companies.
The Securities Industry and Financial Markets Association (SIFMA), a trade group, will orchestrate the exercise. The simulated attack will run from 9 a.m. to about 3 p.m. today, crunching about two and a half days worth of faux attacks those hours. No real systems or accounts will be impacted during the simulation.
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