Quantum Dawn V after-action report published

Published: Monday, 02 March 2020 10:03

SIFMA has released the summary of key recommendations from its biennial Quantum Dawn financial sector cyber security global readiness exercise, which was conducted in November 2019.  Quantum Dawn enabled key public and private bodies around the globe to exercise their incident response protocols both internally and externally, simulating how they would respond to global cyber attacks. Participants included more than 800 representatives from over 150 financial firms, as well as more than 50 regulatory authorities, central banks, government agencies and trade associations across 19 countries.

Recommendations in the after-action report include:

Create a directory of critical stakeholders and key contacts
Creating a directory of financial services firms and key trade organizations, regulatory bodies, central banks and government agencies that would respond to a global cyber or physical event is a good first step for the industry.

Conduct periodic exercises
The industry should schedule regular touchpoints and exercises. These exercises could be a catalyst for developing global information sharing capabilities and incident response and recovery protocols for critical public- and private-sector organizations and contacts.

Enhance information sharing capabilities
Enhancing existing information sharing networks, with organizations that currently manage crises in their respective jurisdictions, is key to building stronger cross-border information sharing between the public and private sector.

Read the report.