UAE Banks Federation’s Information Security Committee hosted a workshop on Cybersecurity for UBF members as part of efforts to tackle the threats of cyberattacks and data theft, which are seeing a dramatic surge as COVID-19 accelerates the shift to digital banking.
The workshop was organized to educate delegates on cyber hygiene best practices (such as using the right security tools, updating software regularly, using multi-factor authentication) and improve members’ understanding of how to identify and resist cyber threats and online security issues, with a view to protect UAE’s critical banking infrastructure.
The workshop was attended by over 100 people including Information Security officers and other key staff from UBF members.
Since the onset of COVID-19 pandemic, UBF, with continuous support and guidance from Central Bank of the UAE, has been making a concerted effort to combat financial crime and fraud, and the Cybersecurity Workshop arrives as the latest in a series of initiatives rolled out by UBF to help its members to tackle the threat of cyberattack effectively.
Last year, UBF conducted the UAE’s first-ever National Cyber Wargaming Exercise for the financial sector. That was followed by multiple awareness drives and events aimed to enhance the cyber resilience of banks and financial institutions as well as educate citizens and residents on how to protect themselves from fraud.
Jamal Saleh, Director General of UBF, said, “As the official representative body of the UAE banking industry, UBF is always looking to safeguard the interests of our members and promote cooperation and coordination on matters of common interest. Collective exercises and knowledge-sharing events, that are designed to enhance the cyber preparedness of member institutions, are the need of the hour. Such close sustained interaction with domain experts will allow banks to equip their staff with the skills and capabilities needed to detect and mitigate risks, minimize losses, and build trust with banks’ customers.”