UAE banking sector faced cyberattack simulation

DG Staff

ABU DHABI 25 January 2021: The Central Bank of the UAE (CBUAE) has announced it conducted the first-of-its-kind cyberattack simulation exercise that is designed to test the resilience of the UAE’s banking sector against any potential cyber threats.

The exercise affirms CBUAE’s preparedness to prevent or mitigate cyber threats that may cause disruptions to the UAE’s economy and financial stability.

The exercise was conducted in collaboration with UAE Banks Federation (UBF) as part of CBUAE’s mandate to ensure the stability and resilience of the UAE’s financial system through the implementation of sophisticated processes and techniques that can combat the threat of advanced cyberattacks and protect the soundness of the banking system, said Wam.

During the cyberattack simulation drill, participating banks were exposed to real-time scenarios to assess and apply sector level crisis management strategies.

CBUAE urged banks to bolster their defences against such attacks and confirmed its commitment to continue the development of its Information technology infrastructure and cybersecurity capabilities in line with the international standard and best practices.

CBUAE will continue to build on this milestone through cross-sector collaborations to further enhance sector’s resilience and protect the national financial system from threats.

YOU MIGHT ALSO LIKE:

No need to quarantine if you’re flying in from…

2.42 million doses of vaccine; 3,566 new cases

New bus stations at Jaffiliya, Qusais and Deira open

UAE non-oil trade could rise 12.9% in 2021: DCCI

Homes handover starts at Aljada mega project

Corporate Governance in the post-pandemic era



Dubai Gazette