Cyber Wargaming – how the UAE Banks Federation protects against cyberattack

It’s known as “Cyber Wargaming 2024,” and it’s being conducted under the supervision of the Central Financial institution of the UAE and the UAE Authorities’s Cyber Safety Council. Cyber Wargaming was an enormous 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 12 months. The occasion has specifically designed simulated cyberattacks to be taught in regards to the security of UBF member banks. These video games reveal the safety, dangers, strengths, and gaps in safety. The cybersecurity workouts enhance the procedures that shield the banks together with the various data, methods, and strategies used to protect the banks.

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

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

Mr. Jamal Saleh, Director Basic of UBF, stated: “At UBF, we proceed our efforts to make sure protected and easy banking operations within the face of speedy developments in the usage of superior applied sciences within the banking and monetary sector. The group of those cyber security 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 most recent developments and supply clients with one of the best companies in a dependable banking setting.”

The Director Basic added: “Following the good success of the workouts we organized in October 2022; many entities and establishments have acknowledged the significance of this occasion in figuring out and making 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 security systems. The massive turnout at this occasion additionally displays the dedication of member banks and monetary establishments to create a safe setting by occasions and coaching applications carried out by our member banks, which offer banking and monetary sector workers with the chance to be taught in regards to the points that require additional improvement to boost cyber security, which is a key pillar in consolidating the UAE’s place as a number one banking and monetary heart within the area.”

The current 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 varied cyber threats has made such occasions a option to safe the banking setting. 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 lately held an occasion known as Threatcasting Occasion in collaboration with MasterCard that centered on potential future threats from superior applied sciences akin to quantum computing and AI, in addition to methods to deal successfully with these threats.

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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 improvement.