Banks and financial services providers need to understand what legislation and regulations are in place to cover the privacy and security aspects of behavioral biometric technology.
Financial institutions must protect themselves from salami attacks, which consist of a sequence of small, fraudulent transactions that can easily bypass detection but, combined, can result in considerable losses.
The Central Bank of the United Arab Emirates (CBUAE) has added a cybersecurity center to its security strategy. The CBUAE Networking and Cyber Security Operations Centre aims to mitigate cyber risk in the country's financial sector.