Payments organisations and banks held their first-ever joint cyber-security war game on Tuesday in a bid to test their systems amid rising IT security threats.
Mastercard, WorldPay and American Express (Amex) were among the payment processors that took part in the exercise, held at IBM’s test centre in Cambridge, Massachusetts.
Some of the findings from the exercise will be divulged at a press conference in Atlanta, Georgia today.
One of the organisers of the exercise, FIS chief information security officer (CISO) Rob Johnston, told Bloomberg: “We put competitors in the same room together, which initially they were hesitant to do. But they realised pretty fast how valuable such a gathering is. When there are multiple breaches in an organised attack, it’s better to coordinate the response.”
While initially reluctant, as Johnston notes, to share information the organisations found that they had different definitions of what constitutes a security threat and different approaches to