On June 10, the Bank of England launched a new framework to help identify areas where the financial sector could be vulnerable to sophisticated cyber-attack. The new framework is called CBEST and was launched in May 2014.

CBEST uses intelligence from Government and accredited commercial providers to identify potential attackers to a particular financial institution.  It then replicates the techniques these potential attackers use in order to test the extent to which they may be successful in penetrating the defenses of the institution.  Participation will be voluntary, although it is expected that take-up will be significant.  Press Release.