UK banks are participating in a war games-style market exercise to test their responses to a concerted cyber attack and the threats posed to their business by traffic gridlock at the 2012 Olympics.
The simulations are being run through today by 87 banks in concert with the Financial Services Authority.
For the cyber simulation, participants will be presented with a number of scenarios, including Internet banking, cash machine and Eftpos failures. The Olympics run-through will test the banks' response to the effects of traffic disturbances on staffing levels and cash distribution.
"There is a strong focus upon dependencies on telecommunications and the internet as well as managing the return to business as usual," says the FSA.
The market-wide tests are the first to be run by the watchdog since 2009, when banks were put through their paces over their responses to 'severe weather' disturbance.
The FSA will publish a full report outlining the key lessons learned in Q1/2012.