Mastercard and CERT-In Partner to Boost Financial Sector's Cybersecurity
The Indian Computer Emergency Response Team (CERT-In) has partnered with Mastercard to enhance collaboration and information sharing in cybersecurity within the financial sector. They have signed a Memorandum of Understanding (MoU) to utilize their combined expertise in areas such as cybersecurity incident response, capacity building, sharing cyber threat intelligence specific to the financial sector, and advanced malware analysis.
For those who may not know, CERT-In is India's central cybersecurity agency under the Ministry of Electronics and Information Technology. It has been appointed as the national agency for incident response in accordance with Section 70B of the Information Technology Act, 2000.
Under the MoU, Mastercard and CERT-In will conduct training programs and workshops focused on cyber capacity building, current market trends, and best practices to improve the cybersecurity of financial sector organizations. They will also exchange relevant cyber threat trends, technical information, threat intelligence, and vulnerability reports to bolster the information security of India's financial sector.
“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 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 Gautam Aggarwal, Division President, South Asia at Mastercard.
