Middle East Banks Strengthen Cybersecurity Amid Growing Threats

Financial institutions across the Middle East participated in the fourth annual Cyber Wargaming exercise in the United Arab Emirates, preparing for simulated cyberattacks amid rising digital threats. Despite these proactive measures, security experts remain concerned about the region’s rapid digital transformation and the shortage of skilled cybersecurity professionals, which continue to pose significant risks to the financial sector.

Jamal Saleh, director general of the UAE Banks Federation, emphasized the importance of cyber wargaming in identifying vulnerabilities and strengthening defenses against evolving cyber threats.

“[T]he rapid adoption and deployment of advanced technologies in the banking and financial sector have increased risks related to transaction security and digital infrastructure,” he stated. Saleh also highlighted the sector’s growing awareness of cybersecurity initiatives that enhance security frameworks and protect consumers as cyber threats become more sophisticated.

The financial industry in the UAE is a prime target for cybercriminals, with 21% of all cybersecurity incidents in the region directed at banks and financial services. This makes the sector the second-most targeted after government entities, which account for 35% of attacks, according to a report released on February 25 by the UAE Cyber Secur

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