Mastercard & CERT-In Will Enhance Cyber-Resilience In Financial Sector

Two entities will leverage their shared expertise to strengthen financial sector cybersecurity incident response

CERT-In and Mastercard India sign MoU for collaboration in cyber security

FinTech BizNews Service

Mumbai, June 19, 2024: Indian Computer Emergency Response Team (CERT-In) has joined hands with Mastercard to promote cooperation and information sharing in the area of Cyber security related to the financial sector. The two entities have signed a Memorandum of Understanding (MoU) under which they will leverage their shared expertise with regards to financial sector in the fields of cybersecurity incident response, capacity building, sharing cyber threat intelligence specific to financial sector and advanced malware analysis. (CERT-In) is a Government organization under the Ministry of Electronics and Information Technology, Government of India. CERT-In has been designated to serve as National agency for incident response under Section 70B of the Information Technology Act, 2000. 

As part of the mutual understanding, Mastercard and CERT-In will hold training programs and workshops  for cyber capacity building, latest market trends and best practices to enhance cyber security of financial sector organizations. The two entities will also share relevant cyber threat trends, technical information, threat intelligence, and vulnerability reports to strengthen the financial sector information security of India.

“Cybersecurity is the need of the hour and Prime Minister Shri Narendra Modi government is committed to ensuring that people on digital platforms are secure, as this warfare is not on the ground but in cyberspace. I am confident that this is an important milestone that will benefit not only both entities but also the public at large,” said Shri Jitin Prasada, Minister of State in the Ministry of Commerce & lndustry; and Electronics and Information Technology.

“Mastercard’s comprehensive approach to security gives its partners and customers deeper visibility into cyber risk and greater adaptability and resilience, protecting their systems through the latest AI technology. The company is delighted to collaborate with CERT-In to fortify India’s financial digital ecosystem, which has powered unprecedented growth in the country,” said Shri Gautam Aggarwal, Division President, South Asia at Mastercard.

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