by Global Risk Insights
As a symbolic and data-rich target, Wall Street faces a number of cyber threats. Regardless of the size of an attack, there remains the need for effective recovery and response mechanisms, underpinned by preventative measures.
The hub of the US financial sector, Wall Street holds great symbolic and physical importance. As such, nation states and lone hackers are reported to have launched attacks in a bid to disrupt national security or gain financial advantage through the sale of stolen confidential data.
In 2011, Iranian-sponsored hackers launched attacks against the websites of 46 Wall Street institutions, including the New York Stock Exchange and NASDAQ. Although inconclusive, US-led sanctions on Iran possibly triggered the cyber attack as retaliation. This would reflect a symbolic attack on the US financial markets.