UAE banks overhaul security as regulators ban weak authentication methods. The Central Bank of the UAE is eliminating SMS and email-based one-time passwords by March 2026, forcing financial institutions to adopt stronger mobile app authentication. The shift addresses growing vulnerabilities that fraudsters exploit through SIM swaps and account compromises. Banks are increasingly turning to behavioral analytics and contextual risk intelligence to detect scams in real time. Social engineering attacks are surging across the region, with criminals manipulating customers into authorizing fraudulent transactions themselves. The regulatory change positions the UAE as a global leader in consumer protection while reducing operational costs for banks through more efficient authentication systems.
