SimSpace, EY and Cybersecurity Foundation Join Forces to Enhance Cyber Resilience for Financial Institutions at Cyber-EXE Poland

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Oct 24, 2024, 12:29 ET

BOSTON, Oct. 24, 2024 /PRNewswire/ -- SimSpace, a global leader in high-fidelity cyber range solutions, recently partnered with EY and Cybersecurity Foundation (Warsaw, Poland) to provide the underlying architecture for the Cyber-EXE Poland event, a cybersecurity exercise for the financial services sector. This event, driven by new DORA (Digital Operational Resilience Act) regulations, brought together eight major financial institutions and four national level CSIRTs teams to test and strengthen their incident detection and reporting capabilities.

SimSpace provided the comprehensive cyber range platform that powered the exercise, offering real-world threat scenarios designed specifically to test DORA's stringent requirements.

Scenarios Tailored for DORA Compliance

Throughout the exercise, SimSpace's advanced cyber range simulated a variety of complex, high-fidelity scenarios, including data exfiltration attacks that required immediate incident reporting as part of DORA's incident response guidelines. These simulations enabled participants to assess how their internal detection processes aligned with the new DORA regulations.

"We are proud to have supported the Cyber-EXE Poland event alongside EY and Cybersecurity Foundation, helping financial institutions navigate the complex requirements under DORA," said Lee Rossey, Co-Founder and CTO of SimSpace. "Our cyber range provided an unparalleled opportunity for these organizations to test, train, and improve their incident detection and reporting processes, ensuring compliance and strengthening their overall resilience."

EY and Cybersecurity Foundation Bring SimSpace Expertise to Financial Services

EY's and Cybersecurity Foundation's decision to partner with SimSpace for this event further emphasized the importance of leveraging best-in-class cyber range technology to meet regulatory challenges. EY, a trusted advisor for financial institutions in Poland, recognized SimSpace's ability to provide realistic, customizable scenarios that help organizations not only detect incidents but also refine their understanding of the reporting requirements under DORA.

"Through our collaboration with SimSpace for the CyberEXE Poland event, we have created a vital platform for financial institutions to not only meet but exceed the DORA compliance requirements," said Jakub Teska, Partner, EY Poland. "The cyber range exercise was meticulously designed to challenge and enhance the cyber resilience of these organizations. It provided a hands-on experience in identifying, reporting, and mitigating cyber threats within a controlled yet highly realistic environment. This initiative is a testament to our commitment to strengthening the cybersecurity posture of the financial sector through practical training and advanced technology".

"Cyber-EXE Poland is a key cybersecurity initiative uniting public and private sector representatives to combat cyber threats. The simulation provided valuable insights into real-world risks to our IT systems, helping to identify security gaps and propose measures to improve incident response. This effort strengthens Poland's resilience against cyber threats, highlighting the importance of sector collaboration in facing the ever-evolving cyberattack landscape," commented Miroslaw Maj, the leader of the Cybersecurity Foundation

About SimSpace

SimSpace is the leading provider of high-fidelity cyber ranges, offering tailored, immersive environments that help organizations strengthen their cybersecurity defenses. By emulating real-world operational environments and adversarial tactics, SimSpace enables cybersecurity professionals to train, test, and improve their skills in scenarios that leverage real-world threats. With advanced capabilities to replicate specific infrastructures, including the full adversary kill chain, SimSpace empowers defenders to protect their organizations against the most sophisticated cyber threats. Trusted by governments, enterprises, and military organizations, SimSpace delivers hands-on training and comprehensive analytics that enhance cybersecurity readiness. For more information, visit https://simspace.com/.

About EY

EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data, and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, visit ey.com.

About Cybersecurity Foundation

The Cybersecurity Foundation is an independent NGO established in June 2010 with the mission to raise awareness of cyber threats. The Foundation focuses on education, conducting exercises, and organizing events that unite the information security community. Also it contributes to research by producing reports, expert opinions, and specialized projects, while supporting the development of cybersecurity systems in Poland and abroad.

The Foundation organizes Cyber-EXE exercises both in Poland and abroad, simulating cyber incidents to strengthen response capabilities.

Contact Information:
Ashley Baich
[email protected]

SOURCE SimSpace Corporation