Treasury Announces Cyber Security Cooperation Memorandum of Understanding with the United Arab Emirates

The U.S. Department of the Treasury has issued a press statement to inform that the Department itself and the Cyber Security Council of the United Arab Emirates (UAE) have finalized a bilateral Memorandum of Understanding (MoU) on cybersecurity cooperation.
The MoU is an extension of a partnership established in November 2021 between Deputy Secretary of the Treasury Wally Adeyemo and the UAE aimed at safeguarding critical infrastructure in the financial sector and enhancing cybersecurity cooperation. The MoU entails the following key aspects:
1. Information sharing related to the financial sector, focusing on cybersecurity incidents and threats.
2. Facilitating staff training and study visits to promote collaboration in cybersecurity.
3. Conducting competency-building activities, such as cross-border cybersecurity exercises.
This collaboration agreement is part of the Treasury’s efforts to enhance cybersecurity in the financial system involving public-private partnerships and strengthening international relationships. It also aligns with the Biden Administration’s comprehensive approach to combat ransomware threats.