October 17, 2023 at 03:34PM
The US Treasury Department and the Cyber Security Council of the United Arab Emirates have agreed to share more information on cybersecurity threats and incidents in the financial services industry. The partnership aims to improve cybersecurity through information sharing, staff training, study visits, and competency-building activities. This collaboration follows a bilateral partnership between the US and UAE to protect critical infrastructure in the financial sector and enhance cybersecurity cooperation.
Key Takeaways from the Meeting:
1. The US Treasury Department and the Cyber Security Council of the United Arab Emirates have agreed to enhance information sharing on cybersecurity threats and incidents affecting the financial services industry.
2. The partnership aims to improve cybersecurity for the international financial system through collaborative approaches, including public-private partnerships and close relationships with international partners.
3. Dr. Mohamad Al Kuwaiti, head of cybersecurity for the UAE government, and Todd Conklin, deputy assistant secretary of the Treasury, met at the Gitex Global Conference in Dubai to discuss and agree on various cooperation areas.
4. The agreed areas of cooperation include financial sector information sharing, cybersecurity incident and threat information sharing, staff training and study visits, and competency-building activities such as cross-border cybersecurity exercises.
5. The partnership announcement follows the Treasury’s visit to the UAE in November 2021, where they established a bilateral partnership to protect critical infrastructure in the financial sector and recognized the importance of increased cybersecurity cooperation for safeguarding the international financial system.