The UAE Banks Federation has started a cyber-security sharing program among its 49 member-banks to help prevent online crimes. The program, the Cyber Threat Intelligence Initiative 2017 was launched to create a cyber-intelligence sharing platform that will help banks to identify and protect themselves from cyber attacks. According to Abdul Aziz Al Ghurair, the chairman of the banking federation, only a robust platform for collection and sharing of cyber-threat intelligence will allow banks to answer the ‘who, what, where, when, why, and how’ questions needed for immediate decisions and actions required. The platform will provide banks with ways to share cyber threats with each other such as when hackers scan for open ports or brute force scan attacks. Ways that are known to bypass security will also be shared as well as known vulnerabilities, the federation said.
