James Y. Moore

The Dubai Financial Services Authority (DFSA) published the report "Cyber and Artificial Intelligence Risk in Financial Services: Strengthening Oversight Through International Dialogue". The publication follows the DFSA’s inaugural Cyber and AI Risk Regulatory College, held in May 2025, which brought together 70 senior representatives from 18 financial authorities across the Middle East, North America, Europe, Africa, and Asia. It analyzes overall #cyber-risk, with focus on #quantum and #AI. On qauantum, it concludes: 👉 Quantum computing poses a direct threat to current public-key cryptography, which underpins secure communications across the financial sector. 👉 Without a timely and coordinated transition to PQC, financial stability could face significant risks within the next decade. 👉 Proactive steps toward PQC adoption should begin well ahead of widespread global standardisation and cross-industry implementation efforts. According to the report, a pathway toward #PQC could involve: 📌 raising awareness of quantumvulnerable cryptographic systems and building a cryptographic inventory; 📌 completing a risk assessment – including implications of ‘harvest now, decrypt later’ tactics, where encrypted data is collected now with the intention of decrypting it once CRQCs emerge; 📌 developing a quantum resilience roadmap, including a hybrid scheme during the transition while classical and PQC would coexist; and 📌 piloting PQC solutions for high-risk infrastructure and monitoring industry developments. It highlights that the tranisition represents not only a technical shift, but also a strategic transformation spanning risk, compliance, operations, and a long-term data management programme. My take: Regulatory and supervisory focus keeps growing in the financial sector, transforming the transition on a topic expanding from cybersecurity into risk and compliance teams. https://lnkd.in/dpxZ-7TE

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Expert Panel 4: The Future of GRC – Balancing Risk, Compliance & Business Agility 9th edition of Global Security Symposium Moderated by Jeevan Badigari, Head of Cybersecurity, ARADA Group, this panel convenes leading experts, Ilias Spyridon Efthymiopoulos (CISO, Instashop) Osama Salah (Senior IT Security Architect, Abu Dhabi Government) Ibrahim Adedeji Adefila (IT Security and Governance Manager, Al Rostamani Group) This session provides attendees with actionable insights into building resilient, compliant, and agile organizations capable of navigating today’s complex risk environment. Ronak Samantaray | Tushar S. | Richa S | Anushree Dixit | Jennefer Lorraine Mendoza | Akashdeep Singh | Ningil Talaman | Miko Panes | S.M Muzamil | ajay arya | Vijay Bakshi | DEEPAK SINGH | Deepak Ravi | Shadab Khan | Shoeb Mohammad Choudhari | kumari Ambika | Jeevan Thankappan | Francis Longa | Mohammed kagzi | Vansh Chadha | Rehisha PE | Anshuman J Prakash | Santosh Pania | Tuba Khan | Arun Shankar #AIDrivensecurity #Governance #Security

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In 2025, the Central Bank of the UAE (CBUAE) has tightened cybersecurity and AML/CFT audit requirements for Licensed Exchange Houses. List of things to consider: 1. Information Security & VAPT Audits - Rulebook Chapter 14 mandates a documented risk-based ISMS, covering network security, access controls, encryption, monitoring, and backup Clear mandates on Conducting independent penetration tests & IT audits annually, or after any major change (systems, infrastructure, or audit findings). 2. AML/CFT Audits - Annual independent AML/CFT audits are required under Federal Decree‑Law No. 20/2018 and CBUAE guidance - A range of violations can result in fines from AED 50,000 – AED 100,000, up to license suspension or revocation linkedin.com - In 2025 alone, six houses faced fines totaling AED 12.3 million 3. Regulatory Inspections & Reporting: - CBUAE conducts ongoing inspections focused on cybersecurity posture, transaction logs, breach protocols, and AML process integrity - Immediate reporting of any cybersecurity breach is mandatory, including detailed remediation plans and timelines. Deadlines & Frequency: - All exchange houses must be audit-ready by July 2025 (one month after the latest guidance took effect), that is, no current extensions exist, firms must complete audits and build remediation frameworks by July 1, 2025. . Annual independent VAPT/IT audits and AML/CFT audits are ongoing, with proactive audits after system changes. Proactive Compliance Steps: - Define your ISMS scope & controls aligned with CBUAE Chapter 14 - Engage a qualified external auditor for VAPT & AML/CFT assessments. - Conduct internal readiness checks 6 months & 1 month before deadline. - Set up breach response planning & tabletop scenarios. Review and automate reports, logs, user access, and controls regularly. How Sandbox Security Supports You: - We help exchange houses achieve audit compliance in 4 structured phases: Phase 1 – Baseline Assessment Identify gaps in ISMS, IT controls, AML/CFT processes, complete with audit prep checklist. Phase 2 – Third‑Party VAPT & AML Audit Support Coordinate assessments, decrypt findings, and prioritize remediation steps. Phase 3 – Implementation & Documentation Deploy technical fixes, refine policies, update logs, and prepare board packages. Phase 4 – Monitoring & Continuous Improvement Provide regular risk reviews, incident simulations, audit-ready reporting, and compliance upkeep. Failing IT audit mandates, even if not explicitly named, can likely result in penalties in the hundreds of thousands, potentially reaching several million AED, depending on severity.

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SecureVisa Group (SVG), in alliance with cybersecurity pioneer ITSEC, today announced the official launch of the UAE’s most comprehensive full-lifecycle deployment suite for Virtual Asset Service Providers (VASPs) operating under the jurisdiction of the Virtual Assets Regulatory Authority [VARA]. Read more: https://lnkd.in/enzp_2yV SecureVisa Group, ITSEC, Amir A. Kolahzadeh #FintechNewsUAE #SVG #ITSEC #Cryptocurrency #Consultancy #Cybersecurity #CryptoLicense #VARA #Dubai #MENA #Fintech #VASP #UAEFintechNews

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Group-IB: Cybercriminals in the Middle East have developed a sophisticated impersonation scam targeting individuals who file complaints on government portals. By posing as government officials, they exploit trust and use remote access tools to access victims’ sensitive data. These scams are highly effective due to the use of stealer malware (e.g., RedLine), which harvests login credentials, credit card details, and more from compromised devices. 💳 How the Scam Works: 1️⃣ Victims are contacted by fraudsters claiming to assist with a lodged complaint, posing as government officials to build trust. 2️⃣ They are instructed to download the legitimate government application and remote access tools under the guise of resolving their complaint. 3️⃣ Once access is granted, fraudsters steal credit card details and intercept OTP codes during shared screen sessions to complete unauthorized transactions. Learn more about these schemes and how to stay secure in our latest blog: https://lnkd.in/g8akrrqA #CyberSecurity #ScamAwareness #MalwareProtection #DataPrivacy #FraudPrevention #CyberCrime #StaySafeOnline #FightAgainstCybercrime

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The FSRA’s latest guidelines are prompting firms to reassess vendor risks, incident response, and governance from the ground up. Abu Dhabi Global Markets' FSRA expects: - Documented cyber risk governance - Vendor risk oversight - Incident reporting within strict timelines We’ve outlined what needs to be done. Learn more - https://lnkd.in/gJ3vH2aV __ #ADGM #FSRA #Cybersecurity

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Technology and Cyber risk remain a critical focus for the DFSA as cyber incident notifications in the DIFC continue to rise. We remind all Authorised Firms to: • report material cyber incidents promptly via the DFSA e-Portal (https://lnkd.in/dhVh8TSc) using the Cyber Incident Notification form.  • join and contribute to the DFSA’s Cyber Threat Intelligence Platform via the DFSA e-Portal for cyber threat intelligence sharing among the DIFC community. These steps are critical to strengthening the security and resilience of our financial ecosystem. Want to enhance your defences? Our latest Cyber Thematic Review provides actionable recommendations to strengthen cybersecurity maturity and resilience. Access the full report here: https://lnkd.in/dktUcaG4 #DIFC #DFSA #Cybersecurity #ThreatIntelligence #Regulation #Regulator #FinancialServices

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Resecurity, a U.S.-based cybersecurity company protecting Fortune 500 companies and government agencies globally, has announced a strategic #partnership with the Union of Arab Banks (UAB) to enhance #cybersecurity capabilities, fraud prevention, and threat intelligence sharing across the #Arabbanking and #financialsectors. Read more: https://lnkd.in/d8qify86 Resecurity, Union of Arab Banks, Wissam Fattouh, Gene Y., Ahmad Halabi #FintechNewsSaudiArabia #Resecurity #UAB #Partnership #CybersecuritySolutions #FraudPrevention #FinancialSector #GCC #ArabWorld #MiddleEast #KSA #SaudiArabia #Fintech #SaudiArabiaFintechNews

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ADGM FSRA Introduces Mandatory Cyber Security Risk Management (CSRM) Framework Effective Date: 31 January 2026 The Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) has issued legally binding CSRM rules to strengthen the cyber resilience of financial institutions. Why it matters Financial firms face growing risks: • Financial losses from ransomware and fraud • Reputational damage from data breaches • Regulatory penalties for non-compliance The CSRM framework ensures consistent risk management, stronger governance, and faster incident response across ADGM. Key changes: • Compliance moves from voluntary → legally mandatory • Firms must have a documented cyber risk framework • 24-hour incident reporting to FSRA • Stricter third-party/vendor risk controls • Board-level accountability for cyber risk management Deadline: 31 Jan 2026 – Organizations have 6 months to comply. How Crowe Can Help • 24/7 SOC monitoring for real-time incident detection • Threat intelligence aligned with FSRA’s requirements • ICT vendor risk monitoring & compliance checks • Incident playbooks & FSRA-ready reporting templates • Compliance evidence packs for audit readiness Don’t wait until it’s too late – act now to ensure resilience, compliance, and trust. Read our article: https://lnkd.in/d5KeHHsN Secure Today. Protect Tomorrow. Contact us to start your CSRM compliance journey. [email protected] | +971 55 343 8693 #ADGM #FSRA #CyberSecurity #RiskManagement #Compliance #FinancialServices #CroweUAE #CSRM

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📢 NEW FROM CIPL - AI, Data Protection, and Innovation: Getting Regulation and Best Practices Right - Key Takeaways from the CIPL-DIFC Academy event hosted in the margins of #RISK GCC Dubai. On 9th December, 2024, CIPL and the DIFC Academy hosted an event on 'AI, Data Protection, and Innovation: Getting Regulation and Best Practices Right'. The event gathered leading voices in the field for two discussions centered around key topics shaping the world of data policy and governance.   We were joined by experts Bojana Bellamy (CIPL), Lori Baker (DIFC), Femi Daniel FIP (Mastercard), Francesca Gori (Accenture), Jelena S. De Lannoy (Kljujic) (Cisco), Kelly Tymburski (SPR Advisors FZ LLE), Matthew R. (CIPL), Ololade Shyllon (Meta), Renato Leite Monteiro (e&), Sarah Shaer (University of Chicago) and Tahir Latif, FIP AIGP (Cognizant) who shared their insights into the relationship between data protection law and AI, and how to operationalize effective AI governance. We are excited to share a high-level summary of the key takeaways from the event below 👇 Download a copy here: https://lnkd.in/eN-Zythj #ai #dataprotection #innovation #insights

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🔐 Cybersecurity Compliance in the DIFC: The DFSA Raises the Bar The DFSA 2025–2026 Business Plan puts cybersecurity front and center with stricter expectations around cyber resilience, third-party risk, and real-time threat supervision. From ISO 27001 alignment to AI-driven risk assessments, the message is clear: cybersecurity risk management is non-negotiable. At Swyt, we support regulated firms in the DIFC with: ✅ DFSA-aligned IT Risk Assessments ✅ MDM, MFA, encryption & secure access control ✅ 24/7 incident response & IT support ✅ Audit-ready documentation, policies, and controls Cybersecurity isn’t just IT anymore — it’s compliance. 📄 Full DFSA Business Plan attached. #DFSA #DIFC #CyberSecurity #Compliance #ITSecurity #Swyt #NextGenMSP

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Secretariat is proud to sponsor the GRC Today 2025 Forum organized by The Wealth Today on 20 May in Abu Dhabi. This year’s theme “Redefining Compliance: Navigating the Future of Risk and Regulation in Financial Services” brings together regulators, financial services leaders, and compliance professionals to address the rapidly evolving regulatory environment. Our team will contribute to several key sessions throughout the day: 𝗧𝗵𝗲 𝗚𝗹𝗼𝗯𝗮𝗹 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 & 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗖𝗿𝗶𝗺𝗲 𝗢𝘂𝘁𝗹𝗼𝗼𝗸: 𝗧𝗿𝗲𝗻𝗱𝘀 𝗮𝗻𝗱 𝗣𝗿𝗲𝗱𝗶𝗰𝘁𝗶𝗼𝗻𝘀 Bhavin Shah and Ralph Stobwasser will deliver a presentation on emerging threats and regulatory responses to financial and economic crime. 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗣𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝗲𝘀 𝗮𝗻𝗱 𝗘𝗻𝗵𝗮𝗻𝗰𝗲𝗺𝗲𝗻𝘁𝘀 𝘁𝗼 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗙𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸𝘀 Ralph Stobwasser will moderate a discussion with leaders from Equiti, DFSA, FSRA, Animoca Brands, and Zodia Custody on how regulatory expectations are evolving and how firms can stay ahead. (𝗥𝗲)𝗱𝗲𝗳𝗶𝗻𝗶𝗻𝗴 𝘁𝗵𝗲 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝗮𝗻𝗱 𝗖-𝗦𝘂𝗶𝘁𝗲 𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽 Bhavin Shah will moderate a panel of senior executives from Network International, Accenture, KPMG, and ADGM, exploring the growing strategic role of compliance across financial institutions. We look forward to advancing the conversation on risk, governance, and compliance with industry peers. Learn more: https://grcsummit.today/ #GRC2025 #Compliance #RiskManagement #FinancialServices

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