The Securities Industry and Financial Markets Association, a major financial industry group, will coordinate a July 18 simulated cyber attack with about 50 firms in an exercise called Quantum Dawn 2. Exchanges, the U.S. Treasury and the Department of Homeland Security will also participate in the exercise, a sequel to a 2011 simulation.
“We’ve been under attack as a sector for the last nine months,” said Karl Schimmeck, the trade group’s vice president of financial services operations. “We know this is real. We know things are possible.” U.S. officials have become increasingly alarmed over computer onslaughts by other nations, terrorists and hackers. Military and intelligence officials have said the cyber threat outranks al-Qaida.