UAE Banks Federation Launches Its First Threat Intelligence Sharing Platform for Banks in the UAE
The UAE Banks Federation (UBF), the professional representative body consisting of 48 member banks operating in the UAE, has today released its first Information Sharing and Analysis Center (ISAC) in the United Arab Emirates (UAE), powered by Anomali, provider of market-leading threat intelligence platforms. It will initially bring together 13 banks' cyber security data in Anomali's ThreatStream platform. This will aggregate, associate, and analyse hazard data from multiple resources in real-time to support defensive actions.
The new UBF-ISAC lays the foundations for a rewarding connection, and aims to enhance the understanding of threat knowledge, display the value of collaboration, and give ongoing training. Founding members include HSBC, CBD, ADCB, Barclays, CBI, Citibank, ENBD, FAB, Mashreq, Noorbank, SCB, ADIB, and NBF. Professional body UBF and the ISAC are set to grow in a phased approach to encompass all of UBFs member banks.
"We are proud to bring the 2017 Cyber Threat Intelligence Campaign right into execution; our partnership with Anomali to build this platform will certainly enable financial institutions to obtain quipped with the devices and knowledge to far better identify, secure, find and respond to cyber-attacks. It will assist to establish the relevance and worth of flawlessly gathering, sharing and analyzing information, while allowing for confidential reporting. Together, we can then minimize sensitive data exposure and make more informed choices and financial investment strategies," stated H.E. Abdul Aziz Al Ghurair, Chairman of UBF.
The ISAC is powered by Anomali's ThreatStream platform, which aids to get and translate the ever expanding quantity of risk data available to organisations from internal and third-party sources. It accumulations hazard intelligence, improves and dedupes it, gets rid of incorrect positives, and constructs clusters of relating information. Along with improving risk details sharing and partnership, the ISAC will certainly allow members to use context to intelligence, where breach information shared quickly could imply the difference in somebody else being assaulted.
"We're excited to enter this first of its kind partnership. The UAE is the monetary solutions center for the Middle East and it's crucial that it takes the lead in embracing danger knowledge sharing," commented Jamie Stone, VP EMEA at Anomali. "The Middle East has actually seen a sharp uptick in cyber-attacks recently, so the fostering of new, technically advanced procedures is vital and sharing knowledge reinforces defenses exponentially.
