US Treasury inks cybersecurity agreement with United Arab Emirates

The United States and United Arab Emirates have finalized an agreement that sets out how the two countries will cooperate on cybersecurity and digital resilience.

The memorandum of understanding signed by the Treasury Department and the UAE’s Cyber Security Council calls for increased information sharing about digital threats to the financial sector; more staff training and visits; and “competency-building activities” like joint online exercises, according to the Treasury.

“As cyber-attacks and ransomware attacks become more complex, close cooperation is essential to prevent these attacks from impacting the international financial system,” Wally Adeyemo, deputy Treasury secretary, said in a statement.

“We are pleased to have the government of the United Arab Emirates as partners in our global effort to combat these threats and look forward to expanding our partnership,” added Adeyemo, who visited the UAE in 2021 as part of an effort to boost digital cooperation between the two countries.

The agreement with the UAE comes as the White House prepares to host its annual International Counter Ransomware Initiative (CRI) summit on October 31.

The Record first reported last month that the Biden administration is expected to urge participating governments to issue a joint statement announcing they will not pay ransoms to cybercriminals.