Targeted by Ransomware, Middle East Banks Shore Up Security

Banks and financial institutions across the UAE and the Gulf face growing cyber risk as ransomware activity rises, the number of ransomware groups active in the region increased (from 12 to 19), and more than 223,000 vulnerable assets were exposed in 2024; Cyber Wargaming 2025 and a planned national investment aim to strengthen defenses amid talent shortages and evolving attacker tactics including phishing, data breaches, and identity-focused attacks.