Tel Aviv, Nov. 16 -- Israel's Banking Supervision Department conducted a nationwide cyber exercise on Thursday, testing the country's financial system against major cyberattacks. All supervised banking entities participated, alongside the National Cyber Directorate and the Center for Financial Continuity at the Ministry of Finance.

The drill simulated escalating cyber incidents, including attacks on supply chains, third-party vendors, and scenarios involving the potential use of artificial intelligence by attackers. Cyber defense managers, chief information officers, and chief risk managers took part in discussions to test coordination and decision-making under pressure.

"Conducting cyber exercises is one of many tools used by bank supe...