Emirates Steel, the largest integrated steelmaker in the UAE, and the UAE Computer Emergency Response Team “aeCERT”, one of the Telecommunications Regulatory Authority initiatives, yesterday signed a Memorandum of Understanding to assist in maintaining Emirates Steel’s information security and to develop mechanisms for sharing information and anticipating cyber threats. Based on the MoU, aeCERT will help Emirates Steel detect, prevent and respond to cyber security threats such as hacking, viruses and fraud.
The MoU was signed at Emirates Steel’s premises by HE Engineer Suhail Al Ameri, Emirates Steel’s Chairman, and HE Mohamed Naser Al Ghanim, Director General of the Telecommunication Regulatory Authority (TRA).
“This relationship will benefit our general IT security environment and prepares us for emergency situations,” said Al Ameri. “The rapid growth of information networking and the increased use of the Internet have resulted in the development of risks and threats to information security which must be recognized and carefully studied. We must find means and ways to address such threats, prevent their occurrence, and limit the scope of their impact should they occur. Today information is shared electronically and our systems are Internet based; this raises concerns for the protection of the confidentiality, integrity and availability of our information,” Al Ameri added.
“All kinds of information are now available on the internet. It is saved in various databases with different systems,” said Mohamed Al Ghanim. “Ensuring the confidentiality and safe access of such widely-stored information poses a great challenge,” Al Ghanim added.
According to the MoU, aeCERT will provide Emirates Steel with advice on threats to the Company’s systems and electronic data from cyber-attacks. AeCERT will also coordinate communications with national and international authorities, and alert Emirates Steel on incidents that may harm its operating environment. In addition, aeCERT will conduct a risk analysis and assessment to help protect Emirates Steel’s systems and update the Company on new technologies that would further secure its systems against potential and emerging threats.
“Industry is in danger from the increasing risks of cyber threats,” pointed out Mr. Stephen Pope, Emirates Steel’s CFO. According to recent reports 40% of IT Executives at critical infrastructure companies said that their company’s vulnerability had increased; while 30% said their company was not prepared for a cyber-attack and 40% expected one. “We realize the fact that our critical IT systems are not designed with cyber security in mind; this is why our Company has decided to implement stronger network controls, to avoid being vulnerable to attacks,” Pope concluded.