The UAE Banks Federation has started a cybersecurity sharing programme among its 49 member banks to help prevent crimes perpetrated online against lenders, according to The National newspaper.
The advisory council to the federation’s chief executive approved the plan to start the Cyber Threat Intelligence Initiative 2017 in March. The proposal called for the creation of a cyber-intelligence sharing platform that will help banks to identify and protect themselves from cyber attacks, the report says.
He added: “By seamlessly sharing business-critical information with each other, banks will be able to prevent and reduce sensitive data exposure and make better, more informed decisions around risk management and the investment needed for their cyber-security strategies. Such intra-sectoral collaboration will allow the banking industry to become more cyber-resilient, ultimately providing greater transaction security and peace of mind for banking customers in the country.”