The UAE Banks Federation has launched a cyber security sharing initiative to help stem the rise of online crimes targeting UAE banks.
The plan to start the Cyber Threat Intelligence Initiative 2017 was given in March and this proposed the creation of a cyber-intelligence sharing platform that could help banks identify and protect themselves from cyber attacks.
Cyber Threat Intelligence Initiative 2017 is intended to provide banks with ways to share cyber-threats with each other. Ways to bypass security and known vulnerabilities will also be shared between members.
Observers have suggested that a similar platform could usefully be devised to help Islamic banks share Shari’ah-bank specific threats.