Goldman Sachs is turning to cybersecurity war games to make sure that its 8000 staff members are well equipped to deal with cyber attacks. These attacks can delete bank data, compromise data privacy and do all sorts of systemic harm to the banking industry. With more and more attacks happening each year, this exercise is becoming a necessity, rather than a luxury for most big firms.
Goldman Sachs has become the first bank to sign up with the UK based Immersive Labs, a company that makes continuously evolving cybercrime games to teach users about threats.
According to Goldman’s Head of Europe, Middle East and Africa Operations, Jo Hannaford, Immersive Labs’ offering is the only one of its kind in the world.
Immersive Labs responded swiftly to the well publicised WannaCry cyber attack of 2017. Four hours after the attack, the company had developed a tool for clients to analyze how the ransomware behaved and how to develop prevention antidotes for future attacks.
This course at Goldman would probably not be made mandatory but a particular test may be made obligatory in light of a certain event that happened such as a ransomware attack.
The cost of the program was not revealed by Ms. Hannaford but she highly recommended it to other banks if they were interested in something of the sort.
Immersive Labs even has a program for students and veterans to take tests to unlock the right to apply for jobs. The application is then sent through without any information on their academic record, race or qualifications.