CYBER ATTACKS CAN BE DEVASTATING

Iran's latest threat to Israel: 72-hour countdown to cyber attack

Bank of Israel convenes urgent preparedness session with the financial sector as Iranian hackers set Friday deadline.

 

By Hili Yacobi-Handelsman  

 

Israel Hayom

Nov 12, 2024

 

Iran's latest threat to Israel: A 72-hour countdown to cyber attack

Following two recent cyber attacks on credit institutions and facing threats from Iranian government-affiliated groups of an imminent cyber strike against Israel planned for Friday, the Bank of Israel has called an emergency preparedness session.

The high-level meeting, coordinated with Israel's National Cyber Directorate, included representatives from the country's major banks, credit companies, and other financial institutions. Israeli commercial airlines were also notified of the potential threat.

Yesterday's situation assessment brought together senior officials from the Bank of Israel, the National Cyber Directorate, and the cybersecurity forum representing banks and credit card companies. They evaluated various scenarios that could unfold Friday, following the Iranian Anonymous for Justice group's threats to target Israel's financial infrastructure.

While an attack is considered likely, its precise nature and scope remain uncertain. Officials are particularly concerned about potential disruptions to credit card clearing operations, similar to the recent attacks on the SHVA clearing house, which could trigger increased cash withdrawals across Israel. The Cyber Directorate plans to implement several countermeasures in the coming days to thwart the Iranian group's intentions.

Both the Bank of Israel and the National Cyber Directorate have urged banks, credit companies, and financial institutions to enhance their preparedness and share any relevant intelligence. Their primary goal is to maintain business continuity regardless of the attack scenario.

The threat follows two significant cyber attacks in the past month against credit companies – one targeting SHVA and another striking Credit Guard two days ago – both of which caused nationwide disruptions to credit payment services.

In response, the Bank of Israel stated: "The Bank of Israel maintains ongoing contact, continuously and especially during these days, with the banking system, the Cyber Directorate, and other relevant bodies to prepare and ensure continuity of various customer services according to developments."