US and UAE finalize MoU on Cybersecurity Cooperation to combat ransomware attacks

On October 16, 2023, the US Department of the Treasury and the Cyber Security Council of the United Arab Emirates (“UAE”) announced that they finalized a Memorandum of Understanding (“MoU”) on Cybersecurity Cooperation. The MOU – part of the Biden Administration’s whole-of government approach to counter ransomware threats – builds upon a bilateral partnership established with the UAE in November 2021 to protect critical infrastructure in the financial sector and expand the role of cybersecurity cooperation in the protection of the integrity of the international financial system. The MoU specifically enhances US-UAE cooperation in the areas of information sharing related to: the financial sector; staff training and study visits that promote cybersecurity-related cooperation; and competency–building activities, including cross-border cybersecurity exercises.

Department of Treasury Press Release