Cyber Wargaming: UAE Banks Federation defends against cyberattack threats

February 8, 2024
1 min read

TLDR: The UAE Banks Federation (UBF) recently organized its third edition of Cyber Wargaming, a cybersecurity exercise aimed at testing the security of UBF member banks. The event, called “Cyber Wargaming 2024,” was a success and focused on developing capabilities to protect the digital infrastructure of banking. The UBF is committed to prioritizing the security of the banking system and information security, with the event reflecting member banks’ commitment to creating a secure environment through training programs and events.

The Cyber Wargaming event aims to spread awareness about the risks of fraud and the need to stay vigilant and protect accounts. It also serves as a platform for identifying and preparing banking cadres for potential cyberattacks and threats. The event is conducted under the supervision of the Central Bank of the UAE and the UAE Government’s Cyber Security Council.

In addition to the Cyber Wargaming event, the UBF also recently held a Threatcasting Event in collaboration with MasterCard. This event focused on potential future threats from advanced technologies such as quantum computing and AI, as well as effective ways to deal with these threats.

The UBF believes that these cybersecurity exercises are important for improving the procedures that protect banks and for enhancing knowledge, techniques, and methods used to protect against cyberattacks. The event is part of the UBF’s efforts to ensure safe and smooth banking operations in the face of rapid developments in the use of advanced technologies in the banking and financial sector.

The UBF’s commitment to cybersecurity is driven by the Central Bank of the UAE, which is keen to develop regulatory frameworks and technologies to keep up with the latest developments and provide customers with the best services in a reliable banking environment. The UBF aims to consolidate the UAE’s position as a leading banking and financial center in the region.

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