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Officers during a cybersecurity seminar.
Under the supervision of the UAE Central Bank, the Federation of UAE Banks has organised the largest simulated cyber attack in the Middle East to support the central bank in enhancing cyber security through best practices and advanced systems, while ensuring the stability and flexibility of the network. the country’s financial system.
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.
Dr Mohammed Hamad Al-Kuwaiti, Chairman of the UAE Government Cyber Security Council, said: “The UAE is making great progress in cyber security, making it one of the leading countries in the field; Develop in response to global changes, thereby strengthening and 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 frameworks to protect institutions and To protect individuals from cyber-attacks and to establish governance principles related to cyber-security. The organization of a simulated cyber-attack workshop is one of the important initiatives to be appreciated, as it provides banking and financial sector professionals to identify areas of strength and the need for further development to strengthen the necessary capabilities for digital transformation. The sector, which has witnessed many achievements, has cemented the UAE’s leading position”.
Jamal Saleh, Director General of the UAE Banking Federation, said: “The holding of this event confirms that the UAE Banking Federation, as the representative and unified voice of UAE banks, puts security first. Banking systems and information security. , under the direct supervision of the UAE Central Bank, is characterized by a proactive approach and future vision in establishing an appropriate framework to respond to technological developments in order to best serve customers in a reliable banking environment.”
He added: “We are all proud to host the largest event of its kind in the region. The extensive participation and success of renowned institutions and cybersecurity experts from the UAE and the region inspires us to strive for further growth in the future.”
The Director General of the UAE Banking 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 IT committees under the Federation for 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 the sharing of experiences among member banks will help to enhance its ability to respond to cyber threats.”
Thabet Bakheet Khamis, Director of Information Security at the Central Bank of the UAE, said: “Hosting the workshop on simulated cyber-attacks confirms that central banks are keen to improve their cyber defences to protect Licensed Financial Institutions (LFIs) and their clients from the increasing risk of cyber-attacks, And it’s evolving as the pace of digital transformation accelerates, 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.
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.
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