Category Archives: Federal Reserve

As the Atlanta city government struggled to recover from March’s ransomware attack, cybersecurity personnel from U.S. banks huddled two miles from city headquarters to practice dealing with the same type of disruptive malware. The exercise, which assembled 18 financial institutions and the industry’s threat-sharing center, simulated a bank’s computer network and tasked participants with defeating “WannaCry-like” ransomware, according to ManTech International Corp., the cybersecurity company that hosted the drill in April. Participants, including big U.S. banks, connected to ManTech’s Advanced Cyber Range Environment (ACRE), a computing facility that can test network defenses against various strains of malware. Some participated from the Federal Reserve office in midtown Atlanta, according to ManTech spokesman Jim Crawford. In this case, exercise planners mimicked the WannaCry ransomware, which struck more than 300,000 computers in 150 countries last year. The company already had practice using that virus for ACRE training “when it was still in the wild,” Brett Barraclough, a ManTech […]

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