Israel Leads Hack Simulations That Crippled Worldwide Financial Markets

JERUSALEM – Israel has picked up points on a 10-country exercise that simulated cyberattacks that crippled financial markets around the world. The Jewish state tried to create realistic scenarios of the panic and chaos that would occur in such a hack.

Citing reports Reuters, Friday (10/12/2021), the simulation named “Collective Strength” was carried out on Thursday (9/12/2021).

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Several countries involved in international cyber attack drills with Israel include the United States (US), Britain, Germany, Italy, Thailand and the United Arab Emirates.

Major financial institutions such as the International Monetary Fund (IMF) and the World Bank were also involved.

Financial officials from participating countries are shown a film outlining a simulated event, in which a narrator states that sensitive data is stolen and shared on the “Dark Web”, creating chaos in financial markets for 10 days.

Exercise—according to Reuters—nicknamed “War GameIsrael’s Ministry of Finance experienced a number of different types of attacks, including breaches affecting the foreign exchange and bond markets, liquidity and security of data shared between exporters and importers around the world.

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The exercise also examines the impact of misleading news reports on a potential crisis, as well as what steps the government is expected to take.

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