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Cyber Wargaming – how the UAE Banks Federation protects towards cyberattack


It’s known as “Cyber Wargaming 2024,” and it’s being performed underneath the supervision of the Central Financial institution of the UAE and the UAE Authorities’s Cyber Safety Council. Cyber Wargaming was a giant success for the second video games in 2022 within the Center East — the UAE Banks Federation (UBF) organized the third version of Cyber Wargaming this yr. The occasion has specifically designed simulated cyberattacks to be taught in regards to the safety of UBF member banks. These video games reveal the safety, dangers, strengths, and gaps in safety. The cybersecurity workout routines enhance the procedures that shield the banks together with the various information, strategies, and strategies used to guard the banks.

Abdulla Matar Al Muhairi, Head of the Banking Supervision Division on the Central Financial institution of the UAE, spoke of the important significance and the position of strengthening the resilience of the monetary infrastructure within the banking sector. The banking sector will need to have a preparedness to defend towards cyberattacks.

The Cyber Wargaming 2024 occasion will deal with growing capabilities to guard the digital infrastructure of banking.

Mr. Jamal Saleh, Director Normal of UBF, mentioned: “At UBF, we proceed our efforts to make sure secure and clean banking operations within the face of fast developments in the usage of superior applied sciences within the banking and monetary sector. The group of those cyber safety workshops confirms our dedication to prioritize the safety of the banking system and knowledge safety. We do that underneath the direct supervision of the Central Financial institution of the UAE, which is eager to develop the required regulatory frameworks and applied sciences to maintain up with the newest developments and supply clients with the most effective companies in a dependable banking surroundings.”

The Director Normal added: “Following the good success of the workout routines we organized in October 2022; many entities and establishments have acknowledged the significance of this occasion in figuring out and getting ready banking cadres for potential cyberattacks and threats and to be ready within the face of the acceleration of digital transformation within the monetary sector by the event of digital safety techniques. The big turnout at this occasion additionally displays the dedication of member banks and monetary establishments to create a safe surroundings via occasions and coaching applications performed by our member banks, which offer banking and monetary sector workers with the chance to be taught in regards to the facets that require additional growth to reinforce cyber safety, which is a key pillar in consolidating the UAE’s place as a number one banking and monetary middle within the area.”

The latest Threatcasting Occasion centered on bank card dangers

The Cyber Wargaming 2024 occasion will deal with growing capabilities to guard the digital infrastructure of banking. The emergence of fraud and numerous cyber threats has made such occasions a strategy to safe the banking surroundings. This Cyber Wargaming occasion will unfold much-needed consciousness in regards to the dangers of fraud and one’s want to remain vigilant and shield accounts.

This group of forward-thinking people not too long ago held an occasion known as Threatcasting Occasion in collaboration with MasterCard that centered on potential future threats from superior applied sciences reminiscent of quantum computing and AI, in addition to how you can deal successfully with these threats.

Featured Picture Credit score: ExpectBest; Pexels

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is an editor at ReadWrite. Beforehand she labored because the Editor in Chief for Startup Grind, Editor in Chief for Calendar, editor at Entrepreneur media, and has over 20+ years of expertise in content material administration and content material growth.

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