Ask finance ministers and central bankers around the world about their worst nightmare and the answer is almost always the same: Sometime soon the North Koreans or the Russians will improve on the two huge cyberattacks they pulled off last year. One temporarily crippled the British health care system and the other devastated Ukraine before rippling across the world, disrupting shipping and shutting factories — a billion-dollar cyberattack the White House called “the most destructive and costly in history.”
The fact that no intelligence agency saw either attack coming — and that countries were so fumbling in their responses — led a group of finance ministers to simulate a similar attack that shut down financial markets and froze global transactions. By several accounts, it quickly spun into farce: No one wanted to admit how much damage could be done or how helpless they would be to deter it.
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