Resecurity Partners With Union of Arab Banks to Strengthen Cybersecurity and Fraud Prevention Across the Arab Financial Sector
Resecurity, a Los Angeles-headquartered cybersecurity company protecting Fortune 500 companies and government agencies globally, has announced via press release a strategic partnership with Union of Arab Banks (UAB) to enhance cybersecurity capabilities, fraud prevention and threat intelligence sharing across the Arab banking and financial sectors.
Union of Arab Banks, which represents over 330 Arab banking and financial institutions across the Middle East and North Africa (MENA), serves as the largest banking and financial consortium in the region. UAB's membership spans central banks, leading commercial banks, investment banks, financial institutions and development funds, playing a pivotal role in fostering collaboration, innovation and economic development across the Arab banking ecosystem. The organization also works closely with regional and international regulatory bodies to advance financial inclusion, digital transformation and risk management practices in the sector.
Through this collaboration, Resecurity and UAB will work together to strengthen the cybersecurity posture of Arab banks, promote the adoption of advanced cyber threat intelligence solutions and implement proactive fraud prevention measures to protect banks and their customers from cyber-enabled fraud and financial crime.
'As the digital transformation of the Arab banking sector accelerates, cybersecurity becomes a top priority to safeguard sensitive financial data and maintain the trust of our customers and partners. Through our collaboration with Resecurity, we are bringing world-class threat intelligence and cybersecurity expertise to the Arab banking community to help mitigate cyber risks and enhance regional cyber resilience,' said Wissam Fattouh, secretary general of Union of Arab Banks and World Union of Arab Bankers.
This partnership will provide UAB member banks with access to Resecurity's comprehensive suite of cybersecurity solutions, including its Fraud Prevention Platform, which is specifically designed for the financial sector. The Fraud Prevention Platform leverages advanced threat intelligence, behavioral analytics and machine learning to detect and mitigate fraudulent activities in real time, protecting banks and their customers from evolving financial crime threats. In addition, banks will gain access to Resecurity's threat intelligence platforms, digital risk monitoring capabilities and advanced cyber threat detection technologies. Resecurity's intelligence-driven approach empowers financial institutions to proactively identify, assess and mitigate cyber risks.
'We are honored to partner with the Union of Arab Banks, a leading institution driving the advancement and security of the Arab financial ecosystem,' said Gene Yoo, CEO of Resecurity. 'Cybersecurity and fraud prevention have become essential pillars of digital banking and financial services. By combining Resecurity's intelligence-led cybersecurity solutions and dedicated fraud prevention technologies with UAB's regional leadership, we are confident this partnership will help enhance the security and trust of financial institutions across the Arab world.'
The collaboration will also foster greater information sharing, joint training initiatives and cybersecurity capacity-building programs, equipping Arab banks with the intelligence and tools necessary to proactively respond to emerging cyber threats and fraudulent schemes.
Information for this story was sourced from Businesswire.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time Business News
an hour ago
- Time Business News
Why More UK & US Enterprises Are Setting Up Their IT Infrastructure in India
In today's fast-paced digital world, companies across the UK and US are constantly looking for smarter ways to expand, scale, and innovate without breaking the bank. One of the most strategic decisions they're making? Setting up IT infrastructure in India. No longer just a cost-saving move, this shift is driven by a powerful combination of talent access, round-the-clock support, and operational efficiency. In fact, India is quickly becoming the go-to destination for IT support solutions, especially for businesses launching new operations or scaling existing ones. Let's explore why more enterprises are embracing India as their IT backbone—and how this decision is unlocking new levels of growth. One of the biggest challenges UK and US enterprises face is finding and retaining qualified IT professionals. In contrast, India offers a deep talent pool with over 1.5 million STEM graduates entering the workforce each year. These professionals are trained across modern technologies—from cloud and cybersecurity to DevOps and AI. Partnering with the right provider gives companies immediate access to pre-vetted professionals who can manage infrastructure deployment, maintenance, and ongoing business IT support—without lengthy hiring cycles. Building a local IT team in the West is expensive. Salaries, benefits, hardware, and compliance costs quickly add up. On the other hand, IT setup for new office environments in India is significantly more cost-efficient—often saving companies 50–70% in operational costs. Whether you're expanding your development team or establishing a new offshore office, India offers budget-friendly options without compromising quality or security. Time zones are no longer a hurdle—they're an advantage. Indian IT service providers cater to IT support for US companies and UK businesses by offering round-the-clock assistance. This ensures uninterrupted business operations, rapid issue resolution, and minimal downtime. From network monitoring and security management to cloud optimization and helpdesk services, companies benefit from true 24/7 IT support solutions. Setting up infrastructure locally can take months. In India, experienced partners can help you go live in as little as 4 to 6 weeks, thanks to well-established frameworks, plug-and-play office spaces, and standardized compliance protocols. Need to scale your team from 5 to 50 quickly? A trusted Indian IT partner can provide a roadmap for agile growth and seamless onboarding—ensuring that your systems and talent evolve with your business needs India has long been a preferred outsourcing hub—but today, it's also recognized as a strategic IT infrastructure destination. Leading enterprises across healthcare, finance, SaaS, and e-commerce already rely on India-based teams for everything from infrastructure design and deployment to ongoing tech support. Case in point: several Fortune 500 companies have set up innovation hubs and business IT support centers in Indian tech hubs like Bengaluru, Pune, Hyderabad, and Gurgaon. With English as a widely spoken professional language, Indian teams offer clear communication, cross-cultural understanding, and global work ethics. This makes collaboration easier, especially when working remotely across borders. Indian professionals are also accustomed to working with international standards and security frameworks like ISO, GDPR, and SOC 2—further ensuring compliance and peace of mind. India is not just catching up—it's innovating. With government initiatives like 'Digital India' and thriving startup ecosystems, the country is driving advancements in AI, cybersecurity, data analytics, and automation. For companies looking beyond basic support, this means they can also tap into India's capabilities for cloud migration, IT modernization, and digital transformation. The decision to set up IT infrastructure in India is no longer just tactical—it's strategic. It's about building resilience, unlocking global talent, and creating scalable operations that support long-term success. Whether you're a growing startup in London or an established enterprise in New York, tapping into India's IT ecosystem gives you a competitive edge. From IT setup for new office expansions to ongoing IT support for US companies, India is proving to be the right partner at the right time. TIME BUSINESS NEWS
Wall Street Journal
an hour ago
- Wall Street Journal
These L.A. Business Owners Say Protest-Fueled Mayhem Is Hammering Their Sales
LOS ANGELES—Johnny Wong has been painting over graffiti outside his downtown flower shop every morning since political protests marred by vandalism and violence began late last week. On Wednesday morning, he gave up. 'We just got tired,' said Wong, whose revenue is down 80% in the past few days. He closes each day around noon. Foot traffic has plummeted and many people aren't braving the streets to pick up orders.
Los Angeles Times
2 hours ago
- Los Angeles Times
Cypress withholds records from TimesOC related to city manager allegations
In the aftermath of 'unlawful acts of misconduct' allegations made against Cypress City Manager Peter Grant, the city is refusing to turn over related records to TimesOC. Since former Public Works Director Doug Dancs first made the accusation while calling for Grant's firing during the April 28 Cypress City Council meeting, concerned residents and council members have pushed for more transparency. On May 15, TimesOC filed a public records request seeking documents detailing allegations of misconduct or harassment involving Grant and Dancs. The request also asked for invoices from the Los Angeles-based Liebert, Cassidy, Whitmore firm, as an attorney with the firm signed off on Dancs' $183,000 separation agreement. The city's payment register also shows nearly $105,000 in fees paid to the firm for legal services dating back to May 2024. It remains unclear if the payments were related to any human resources issue involving Dancs and Grant. Either way, Cypress cited attorney-client privilege first and foremost in withholding all responsive records — including invoices — from disclosure. 'Any invoices or related records maintained by the city regarding [the firm's] advice regarding any workplace investigations are exempt from disclosure,' City Clerk Alisha Farnell wrote in an emailed response to TimesOC's public records request. 'These invoices contain descriptions of confidential legal services and matters, and their disclosure would reveal privileged attorney-client communications and legal strategy.' David Loy, executive director of the First Amendment Coalition, said that Cypress' exemptions raised questions on both sides. He pointed to a case in Petaluma were an appellate court eventually ruled that an investigative report into a woman firefighter's claims of sexual harassment and discrimination by an outside firm was privileged. 'On the right facts, privilege can potentially apply to outside counsel doing investigation, depending on the situation,' Loy said. 'It's very fact-sensitive.' With regard to withheld invoices, Loy turned to a California Supreme Court ruling in a case involving the ACLU's efforts to obtain invoices from Los Angeles County related to payments made to private law firms in lawsuits against its sheriff's department. 'The court ruled that invoices are not always privileged, but drew a distinction between open cases and closed cases,' Loy said. 'When a matter is active and ongoing, the court held that the invoice, as a whole, is subject to privilege — even the total amount spent. Once a case is closed, the invoices are no longer completely privileged.' Farnell claimed that the firm is providing 'ongoing advice' to Cypress. The city, she said, would be disclosing the total amount of legal billing by the firm since May 2024 in connection with any workplace investigations. TimesOC already tallied that figure through Cypress' payment register. 'With respect to invoices, the issue is not whether the law firm is on a permanent retainer, the issue is whether that particular case or matter is done,' Loy said. All parties signed Dancs' separation agreement by October. His last day of employment with Cypress was Dec. 31. The city paid him out in January. To whatever degree privilege is legally applicable to documents related to Dancs' allegations, Cypress City Council, as the client, would have the authority to waive it. In a recent high-profile case, Anaheim waived attorney-client privilege in 2023, which cleared the way for the release of a redacted anti-corruption report to its city council and the public. Cypress Mayor David Burke called a special meeting on May 19 to direct City Atty. Fred Galante to turn over any such documents to the council. The question of waiving attorney-client privilege did not appear on the agenda. With Councilmember Leo Medrano absent because he was attending a Democratic club meeting at a Cerritos IHOP instead, the council deadlocked 2-2 on the question. During the June 9 Cypress City Council meeting, a former council member, Frances Marquez, advocated for the item to be brought back for discussion at a future meeting. 'You need to hand that investigation over to the mayor,' she told Galante. 'Everybody in this community is still watching.' But for the second straight council meeting since the special meeting deadlock, no council member took any action to revive the discussion. Instead, a review of Grant's job appeared on the agenda. Galante reported during the meeting that the City Council discussed the city manager's performance evaluation and provided direction in closed session. 'No further reportable action was taken,' he said.
