[ad_1]
The Federation of UAE Banks, the unified representative of UAE banks, organized a cyber wargaming event on 6 October 2022 as part of its ongoing efforts to strengthen cyber security and follow best practices to enhance the level of protection of banks and digital infrastructure while ensuring that Provide customers with a safe environment.
Held under the direct supervision of the UAE Central Bank, the event was attended by cybersecurity experts from the banking and finance sector. It is based on simulation experiments designed to understand the responsiveness of cybersecurity teams in response to attacks and to identify strengths and gaps by responding to virtual attacks developed by experts in the field.
The Federation of UAE Banks and the UAE Central Bank worked closely with several strategic partners to develop all the experiments for this event. Participating organisations include the UAE Government Cyber Security Council, Abu Dhabi Digital Authority, Abu Dhabi Police and Dubai Police, as well as the Dubai Centre for Electronic Security and Gartner. Representatives from the central banks of the GCC also participated in the event as observers.
Cyber wargaming is designed to help improve the process of identifying, detecting and responding to cyber attacks by providing knowledge about the techniques, methods and procedures used by attackers and the factors that constitute threat sources.
Heads and members of information and cybersecurity teams from member banks (FAB, ENBD, Mashreq, HSBC ME, NBF and ADIB) and financial institutions, as well as CEOs participated in exercises that facilitated the exchange of experience and knowledge to improve the UAE The Banking Industry’s Preparedness to Respond to Cyber Attacks.
Given the growing popularity of e-commerce, digital banking services and mobile applications, the UAE Banking Federation has focused on developing capabilities to protect the banking industry’s digital infrastructure, which has led to the emergence of new, more sophisticated and targeted cyber-attacks.
In addition to the cybersecurity exercise targeting the security teams of member banks and financial institutions, a dedicated tabletop exercise was organized for senior bank executives to respond to cyberattacks to improve crisis response and risk management capabilities.
Jamal Saleh, Director General of the Federation of UAE Banks, said: “This incident demonstrates that, under the direct supervision of the UAE Central Bank, the protection of banking systems and information security is our top priority, characterized by a proactive approach aimed at establishing An appropriate framework to respond to advancements in the digital space in order to best serve customers in a safe and secure banking environment.”
The Director General of the UAE Banking Federation also said that they are working with all member banks and other relevant authorities to drive the digital transformation process in a secure environment, which is reflected in the establishment of three Information Technology Committees under the Federation, Technology, Information Security and Digital Banking. Serve.
Dr. Mohammed Hamad Al Kuwaiti, Head of Cyber Security, UAE Government said: “Cybersecurity is witnessing tremendous progress in the UAE, making it one of the leading countries in the field. Thanks to the National Cyber Security Strategy, which aims to strengthen and implement numerous initiatives through , evaluate the results and develop according to global changes, creating an integrated system.”
Al Kuwaiti added: “We are committed to creating a secure and robust cyber environment that enables institutions and businesses to develop and grow in a safe and prosperous digital environment. For this, it is important to establish the necessary infrastructure and framework to protect institutions . and individuals are protected from attack and establish governance principles related to cyber security. Organizing events such as cyber wargaming is an important initiative and because it equips professionals in the banking and financial sector with the necessary competencies and domains Appreciated. Further development to strengthen the digital transformation of the industry.”
Thabet Khamis, Head of Digital Security, Central Bank of the UAE, said: “The participation of central banks from GCC countries as observers is symbolic of efforts and consolidation of regional cooperation in developing the banking and financial sector. We are working to further strengthen these relationships and Organize more events in partnership with the UAE Banking Federation to provide a safe banking environment.” -TradeArabia News Service
[ad_2]
Source link