Fintech Security

Evolving threats and broadening responses to Ransomware in the UAE

What is the role of the UAE in raising awareness against cyber attacks?

The UAE has shifted to the digital economy as a national priority, with technologies like Artificial Intelligence, Blockchain, Fintech, the Internet of Things, and 5G quickly gaining traction across the public and private sectors but this also means that it now faces a higher risk of targeted cyber threats than ever before. In conclusion, the UAE’s recent attacks may be an indication of things to come, and the nation’s response may serve as a template for how the region should address this growing security concern in the short and long term.

Recently, the UAE has established the UAE Cyber Security Council. The Council was established to define a cyber security policy, provide a secure cyber infrastructure, and ensure quick response times to combat cybercrime. The UAE has recently been moving toward a “service-centric approach,” establishing preliminary deals with numerous companies, including Huawei, Amazon Web Services (AWS), and Deloitte, to attain ambitious goals for combating cybercrime. With this kind of strategy, organizations adopt a service-based approach to cyber security as opposed to a technology-focused one. As a result, they outsource security operations to a professional and contract with a service-level, agreement-based offer.

Additionally, this strategy reduces expenses, increases efficiency, and enables firms to concentrate on their core competencies.

Specific goals of these agreements, along with one signed in March 2022 with the UAE-based Cyber Protection X, include strengthening local cyber security knowledge, expanding cyber training capacities, exchanging best practices, and promoting research and innovation in the sector. These collaborations are anticipated to speed the UAE’s transformation to a digital economy and strengthen its cyber security infrastructure.PAC_Ransomware in the UAE_02

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