The United States and the United Arab Emirates have formally established an agreement aimed at enhancing their collaboration on cybersecurity and digital resilience.
Furthermore, the memorandum of understanding, signed between the Treasury Department and the UAE’s Cyber Security Council, outlines several key provisions. These include increased information sharing concerning digital threats within the financial sector, boosting staff training and visits, and engaging in “competency-building activities” such as joint online exercises. The pact acknowledges the growing complexity of cyberattacks and ransomware incidents and underscores the necessity for close cooperation to safeguard the international financial system, according to Wally Adeyemo, deputy Treasury secretary.
The agreement signifies a significant milestone in the global effort to combat evolving cyber threats, with Adeyemo expressing pleasure in having the UAE government as partners. He also referenced his visit to the UAE in 2021, which was a part of an initiative to bolster digital cooperation between the two nations.
As this agreement takes shape, the White House is gearing up to host its annual International Counter Ransomware Initiative (CRI) summit on October 31. It is anticipated that the Biden administration will encourage participating governments to issue a joint statement pledging not to pay ransoms to cybercriminals, as previously reported by The Record. This demonstrates a proactive approach to countering the growing ransomware threat in the digital landscape.