Al Ansari Financial Services boosts cybersecurity as digital finance usage surges

Dubai-based Al Ansari Financial Services PJSC is bolstering its cybersecurity and fraud-prevention measures as the company's digital financial services expand and more transactions occur through technology-enabled channels. The investments encompass identity verification, real-time threat detection, fraud monitoring, transaction monitoring, and enterprise-wide security controls, all of which form a crucial part of the Group's digital strategy, aiding the secure expansion of its platforms while safeguarding customer data and enhancing operational resilience.

As more financial activity moves online, cybersecurity has emerged as critical infrastructure for financial service providers. To counter the growing sophistication of cyber threats, phishing schemes, and social-engineering tactics, Al Ansari Financial Services employs a layered security model focusing on prevention, early detection, and rapid response.

This model includes strong identity verification, continuous monitoring of transactions, networks, and technology infrastructure, data-protection safeguards, regular independent assessments, and incident-response and business-continuity capabilities, complemented by security-awareness programmes for customers and employees.

Al Ansari Financial Services' ongoing investments in cybersecurity, fraud prevention, and operational resilience align with the evolving regulatory landscape of the UAE. The Central Bank of the UAE's new Operational Risk Management Regulation enhances requirements for licensed financial institutions, including cybersecurity, fraud risk, business continuity, incident management, and operational resilience.

Rashed A. Al Ansari, Group Chief Executive Officer, emphasized that protecting customer information is vital for maintaining trust and fueling the growth of the digital business. Bruno Lopes, Group Chief Technology Officer, explained that cybersecurity necessitates continuous investment due to the ever-changing nature of risks. The company combines identity and access controls, preventive safeguards, continuous monitoring, and rapid-response capabilities across its technology environment.

Regular independent assessments complement these measures, along with customer and employee education, recognizing that effective security relies on both technology and awareness. The Group pledges to refine its cybersecurity and operational resilience framework in response to emerging risks, regulatory developments, and industry best practices.