UAE Banks Federation organises meeting

Abu Dhabi, United Arab Emirates; 15 March 2023:

The UAE Banks Federation, the representative and voice of UAE banks, organised a meeting with the Chief of the Cyber Threat Intelligence Group United States Department of the Treasury, Mr. Ryan Brick and the accompanying delegation. Senior cybersecurity officials from the US Department of the Treasury and UBF member bank attended the meeting.

The two parties discussed the latest developments in the banking sector in the UAE and the US on the diverse cyber threats faced by banks and the continuous efforts to enhance cybersecurity and follow best practices to increase the level of protection of the digital infrastructure of the banking and financial sector and create a secure environment for customers.

Mr. Jamal Saleh, Director General of the UAE Banks Federation, coordinated the meeting, which discussed critical developments in the financial and banking sectors in the UAE and the USA.

Mr. Ryan Brick noted the importance for financial institutions to exercise due diligence in risk management and take adequate action and advanced cyber security measures to protect customers and address threats and challenges that are evolving each day.

The meeting was organised with the support and guidance from the Central Bank of the UAE to provide member banks with an opportunity to discuss with Mr. Ryan Brick and senior cybersecurity officials from the US Treasury Department the procedures and solutions adopted by banks in the US and the UAE to address fraud and cyber threats. The meeting reaffirmed the Central Bank of the UAE’s support and guidance to all banks and their ongoing work to ensure compliance with all anti-money laundering laws and regulations and reduce the risks to federation member banks.

Mr. Ryan Brick thanked UAE Banks Federation for organising the meeting and bringing the two parties together to exchange views.

Last Updated on 10 months by News Desk 2