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- The campaign improves the efficiency and infrastructure security levels of the financial sector
- Sharing knowledge and experience helps strengthen the financial sector’s resilience to cyber threats
Abu Dhabi, United Arab Emirates: Under the supervision of the UAE Central Bank, the UAE Bank Federation has organised the largest simulated cyberattack in the Middle East to support the central bank in enhancing cybersecurity through best practices and advanced systems, while ensuring the integrity of the country’s financial system. Stability and flexibility.
The workshop aims to improve the financial sector’s preparedness for cyber-attacks by presenting real-world scenarios that educate participants on the fraudulent techniques and methods used by the entities carrying out these attacks, as well as the factors that represent the source of the threat.
The seminar was attended by a number of senior officials and cybersecurity experts from banks and Licensed Financial Institutions (LFIs), in addition to those from the Gulf Cooperation Council (GCC), Abu Dhabi Digital Authority, Abu Dhabi Police, Dubai Police and Dubai Electronic Security Center, participating as an observer.
His Excellency Dr. Mohammed Hamad Al-Kuwaiti, Chairman of the UAE Government Cyber Security Council, said: “Cybersecurity is making tremendous progress in the UAE, making it one of the leading countries in this field; as the National Cybersecurity Strategy aims to strengthen and The results are then developed according to global changes, creating an integrated system.”
He added: “We are passionate about providing a secure and robust cyber environment in which institutions and businesses can develop and grow in a safe and prosperous environment. To this end, it is important to develop the necessary infrastructure and framework to protect institutions and individuals. From cyberattacks, to establishing governance principles related to cybersecurity. The organization of a simulated cyberattack workshop is one of the important initiatives as it provides banking and financial sector professionals with the necessary competencies to identify areas of strength and areas of strength that need further development sector to strengthen the digital transformation of the industry, which has witnessed many achievements that have cemented the UAE’s leading position.”
Jamal Saleh, Director General of the Emirates Banks Federation, said: “The holding of this event confirms that the UAE Banks Federation, as the representative and unified voice of UAE banks, places the highest priority on the security of the banking system and information security in the UAE Central Bank Under the direct supervision of the company, it is characterized by a proactive approach and future vision in establishing an appropriate framework to respond to technological developments in order to provide the best possible service to customers. A reliable banking environment.”
He added: “We are all proud to launch this event, the largest of its kind in the region. The extensive participation and success of renowned institutions and cybersecurity experts from the UAE and the region has inspired us to strive to achieve success in the field. Further development. Future.”
The Director-General of the UAE Bank Federation also said that they are working with all member banks and other relevant authorities to enhance digital transformation in a secure environment, which is reflected in the establishment of three Information Technology Committees under the Federation, Technology, Information Security and Digital Banking Services. . He added: “We have also organised a number of events and activities, such as workshops simulating cyber-attacks and national fraud awareness campaigns, which have helped raise awareness of fraud risks. We believe that sharing experiences among member banks will have Helps enhance their ability to deal with fraud risks. Cyber threats.”
Mr. Thabet Bakheet Khamis, Director of Information Security, Central Bank of the UAE, said: “The conduct of the workshop on simulated cyber-attacks confirms the central bank’s keenness to improve cyber defences to protect Licensed Financial Institutions (LFIs) and their clients from the risks of cyber-attacks, with As the pace of digital transformation accelerates, the risk of cyber-attacks is increasing, especially in financial processes.”
“The participation of many banks operating in the country marks an integration at the sectoral level to create an integrated system that maintains cybersecurity and provides a secure cyber environment,” he added.
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About the United Arab Emirates Banks Federation (UBF):
Established in 1982, the United Arab Emirates Banks Federation (UBF) is a professional representative body made up of 56 members of banks and organisations operating in the UAE. UBF advocates for the interests of all members and enhances cooperation and coordination among members to enhance the UAE’s banking ecosystem for the benefit of members, clients and the entire UAE economy.
UBF’s mission and goals focus on representing its members and defending their rights and interests. UBF provides a platform for collaboration and exchange of ideas and expertise among its members, and plays an important role in raising public awareness of the contribution of the UAE banking sector to the country’s economic and social development.
UBF has a 22-member Advisory Committee, comprising the CEOs and Managing Directors of member banks and institutions, which oversees the implementation of UBF’s policies and activities. The CEO Council also makes directional decisions for UBF’s 25 Technical Committees and 3 Advisory Committees, through the UBF’s General Secretariat, which in turn discuss all issues related to the UAE’s banking and financial services ecosystem. The Federation of UAE Banks also includes an advisory committee made up of the chief executives of the other member banks.
For more information please contact:
Lee Soo Hyun
federation of uae banks
sooyin@uaebf.ae
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