Mastercard and CERT-In Partner to Strengthen India’s Financial Cybersecurity

Devdiscourse News Desk | New Delhi | Updated: 19-06-2024 21:30 IST | Created: 19-06-2024 21:30 IST
Mastercard and CERT-In Partner to Strengthen India’s Financial Cybersecurity
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Mastercard and CERT-In, the Indian Computer Emergency Response Team under the Ministry of Electronics and Information Technology, Government of India, have formalized a strategic partnership aimed at bolstering cybersecurity measures within the country’s financial sector. This collaboration is underscored by a Memorandum of Understanding (MoU) signed between the two entities, focusing on cybersecurity incident response, capacity building, and the exchange of cyber threat intelligence specific to financial institutions.

Under the MoU, Mastercard and CERT-In will conduct joint training programs and workshops designed to enhance the cyber resilience of financial sector organizations. These initiatives will cover the latest market trends, best practices, and advanced malware analysis techniques. Additionally, both parties will share relevant cyber threat trends, technical information, threat intelligence, and vulnerability reports to strengthen the overall information security framework of India’s financial sector.

Speaking on the partnership, Shri Jitin Prasada, Minister of State in the Ministry of Commerce & Industry and Electronics and Information Technology, emphasized the government’s commitment to cybersecurity, highlighting its crucial role in ensuring digital platform security amidst evolving threats in cyberspace.

Shri Gautam Aggarwal, Division President, South Asia at Mastercard, expressed the company’s dedication to security through its advanced AI technology, which provides comprehensive cyber risk visibility and resilience. He noted that the collaboration aims to fortify India’s financial digital ecosystem, supporting its continued growth.

The partnership between Mastercard and CERT-In marks a significant step towards safeguarding the financial sector in India against cyber threats, reflecting a proactive approach to cybersecurity management and resilience building.

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