As reported by Endgadget, GCHQ is investigating the possibility that a London Stock Exchange outage in August may have been due to a cyberattack. It is reportedly taking a close look at the associated code, including time stamps, to determine if there was any suspicious activity. The exchange was in the middle of updating its systems when the outage happened, and there’s a fear this left systems open to attack.
Jake Moore, Cybersecurity Specialist at ESET:
“The potential consequences of an attack on the LSE could be huge, and not only on the Exchange itself. As we recently saw with the cyber attack on Travelex, the knock-on effects with other firms connected with the company can be catastrophic. When such a pivotal corporation is attacked, many third party organisations can be affected in different magnitudes. Some are equipped to not be affected by the cyber attack itself, but then financial hits can come as a secondary blow.
Stock exchanges are naturally aware of this increased risk of attack and have higher levels of security in place for such attacks. However, if threat actors are persistent enough, they will continue to make attempts via a series of entry points, and there is only so much protection that can be in place. Staff in training will continually be a target, therefore keeping staff aware of such threats is key to protecting such a high-risk organisation.”