The speed at which cybercriminals operate can be worrying for those tasked with defending networks from attacks. Threat actors can weaponize vulnerabilities within days of them being discovered, and successful exploits or techniques will rapidly spread among criminal communities.
Companies need to be sharing more security intelligence with industry peers to better defend against and more rapidly adapt to ever-changing threats. To foster greater collaboration and share best practices, UBS partnered with the Financial Services Information Sharing and Analysis Center (FS-ISAC) to bring together organizations from banking and finance across Europe to take part in a series of cyber war games.
War games with peers improves incident response
UBS is a Swiss-based multinational investment bank and financial services provider with over 60,000 employees managing assets with a total value of over $950 billion. UBS Business Solutions (BS), created in 2017, is a separate entity performing back-office services (including IT, transactions, trading systems, risk management, legal services, human resources and marketing) that ensure key services can continue in the wake of any major financial crisis at UBS.
As CISO and head of cyber assurance testing at UBS BS, Carlo Hopstaken is responsible for testing the resilience of various systems and the responses of teams designed to protect them within UBS. He also ensures that UBS adheres to financial services-focused testing frameworks such as CBEST in the UK, iCAST in Hong Kong, or Tiber in the European Union.