Local, global entities to launch cyber threat intelligence platform in Dubai

Local, global entities to launch cyber threat intelligence platform in Dubai
Local, global entities to launch cyber threat intelligence platform in Dubai

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Aden - Yasmine El Tohamy - Leading entities from the public and private sector are launching a cyber threat intelligence platform to help companies in the Dubai International Financial Centre (DIFC) implement appropriate safeguards to mitigate against cyber risks.

The Dubai Financial Services Authority (DFSA) is launching the platform in cooperation with the Dubai Electronic Security Centre (DESC), the National Computer Emergency Response Team (aeCERT) and the Computer Incident Response Center Luxembourg (CIRCL). Global companies including HelpAG, Kaspersky, Palo Alto Networks, Cofense, and Recorded Future are participating in the initiative and contributing to the platform, which is scheduled to go live in January 2020.

The DFSA views cyber risk as an issue that impacts all businesses and requires an open dialogue and cooperation between industry participants. Cyber attacks are increasing in frequency and sophistication, and firms generally have a reactive approach to threats. The information shared on the platform is intended to assist businesses in the DIFC in detecting and preventing cyberattacks.

The platform is a major milestone in mitigating cyber risk proactively and will benefit the broader DIFC community by creating an ecosystem for information sharing and enriched cyber threat intelligence to help detect and mitigate cyber risks. The platform is the first regulator-led cyber threat intelligence platform in the region and will be operated and managed in coordination with Help AG.

"The platform is designed to strengthen the cyber security environment in the DIFC, with an overarching aim of facilitating businesses in their cyber defences, in a more efficient and coherent manner. It is reflective of the importance of public-private partnerships in combating non-traditional and non-financial risks like cyber security. Many non-financial and non-traditional risks will factor in our operating Business Plan for 2020 and beyond," said Bryan Stirewalt, chief executive officer of DFSA.

Waleed Al Awadhi, chief operating officer of the DFSA, said that they take cyber security seriously and are increasing its focus on cyber risk. This initiative is part of a broader DFSA strategy to increase cyber threat awareness and improve cyber resilience in the DIFC.

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