UAE Banks Grapple With Sophisticated Cyber Threats: Khaleej Times Reports Rise in AI-Driven Attacks
The United Arab Emirates’ banking and financial sector is confronting an alarming rise in cyber threats, with cybercriminals leveraging advanced artificial intelligence to execute highly targeted phishing and extortion campaigns. This revelation came during the FutureSec Summit 2025, hosted in Dubai by Khaleej Times, where cybersecurity experts raised urgent concerns about the evolving landscape of digital risk.
Hala Elghawi
Regional Cyber Security Risk Specialist
Banking Industry
According to the Khaleej Times report, attackers are now deploying “triple extortion” tactics — a progression of ransomware that begins with data theft, followed by system encryption, and culminates in threats to publish or sell the stolen data if ransom demands are not met. “The pressure is intense,” warned Regional Cybersecurity Risk Specialist Hala Elghawi.
The report highlights that over 95% of cybferattacks continue to originate through social engineering, with phishing emails now more dangerous than ever. Elghawi explained how AI-powered spear phishing allows cybercriminals to craft emails so personalized and convincing that even seasoned professionals can be deceived.
“Phishing emails have become highly sophisticated, especially with AI-generated spear phishing. These are tailored to specific individuals, making them incredibly hard to detect,” she told attendees.
Cybersecurity leaders at the summit emphasized the urgency for the Banking, Financial Services, and Insurance (BFSI) sector to move beyond traditional defenses and adopt proactive, adaptive security frameworks that can withstand the escalating complexity of digital threats.
As the UAE continues to position itself as a global financial hub, this latest wave of cyber risk reinforces the critical need for heightened vigilance and next-generation security solutions across the nation’s financial infrastructure.
