Source: Aleksandar Tomic via Alamy Stock Photo

Banks in the United Arab Emirates (UAE) recently participated in a simulated cyberattack event that tested their ability to thwart cyber risks and identified their cyber strengths and weaknesses.

The UAE's Cyber Wargaming event is an initiative created to protect UAE's digital infrastructure and banking sector. It was organized by Central Bank of the UAE, the UAE Government's Cyber Security Council, and the UAE Banks Federation (UBF).

Representatives from UAE banks, financial and technology institutions, strategic partners of the UBF, and cybersecurity experts from the banking and financial sector all attended the event, according to a press statement.

"The organization of these cybersecurity workshops confirms UBF's commitment to prioritize the security of the banking system and information security," said Jamal Saleh, director general of UBF.

The banking sector event follows Qatar's national drill in November 2023 that was aimed at determining cyber weaknesses, assessing cyber readiness, and measuring the ability to address attacks and threats.

Saleh noted that events like these help develop fraud prevention solutions and keep pace with changes in the legislative and regulatory environment.