The Dubai Financial Services Authority has today published a report on its first industry-level cyber simulation exercise.
The exercise, carried out in May, involved 17 authorised firms in the DIFC, and was designed to assess and improve the effectiveness of cyber crisis management capabilities, to improve the DFSA’s capability to respond to a widespread cyber incident.
In addition to the exercise, the DFSA recently published a suite of cyber risk management rules, which all DIFC Authorised Persons are expected to implement by January 2024.
Ian Johnston, chief executive of the DFSA, said: “Establishing and promoting high levels of cyber resilience and security in the DIFC is a high priority for the DFSA. In recent years, we have been engaging with firms in the centre through various outreach activities and our cyber threat intelligence platform, to boost knowledge of good cyber resilience and hygiene. Our cyber simulation exercise gave firms the opportunity to test their cyber risk management frameworks in a safe and controlled environment and to receive expert feedback. We will continue to work with firms to build their cyber awareness and encourage best practice.”
The exercise was conducted across the DIFC in partnership with Control Risks.
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