February 7, 2024 at 10:08AM
UAE banks recently participated in a cyberattack simulation to test their ability to combat cyber risks. The Cyber Wargaming event was organized by the Central Bank of the UAE, the UAE Government’s Cyber Security Council, and the UAE Banks Federation. Representatives from various sectors attended, reflecting the UBF’s commitment to prioritize banking system security and information security.
Key Takeaways from the Meeting Notes:
1. Banks in the United Arab Emirates (UAE) recently participated in a simulated cyberattack event to test their ability to mitigate cyber risks and identify cyber strengths and weaknesses.
2. The UAE’s Cyber Wargaming event was organized by the Central Bank of the UAE, the UAE Government’s Cyber Security Council, and the UAE Banks Federation (UBF) to protect UAE’s digital infrastructure and banking sector.
3. The event was attended by representatives from UAE banks, financial and technology institutions, strategic partners of the UBF, and cybersecurity experts from the banking and financial sector.
4. Jamal Saleh, director general of UBF, emphasized UBF’s commitment to prioritize the security of the banking system and information security through the organization of cybersecurity workshops.
5. The banking sector event in the UAE follows Qatar’s national drill in November 2023, which aimed to determine cyber weaknesses, assess cyber readiness, and measure the ability to address attacks and threats.
6. Saleh highlighted that events like these contribute to the development of fraud prevention solutions and keeping pace with changes in the legislative and regulatory environment.