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CERT-In and Mastercard Collaborate to Fortify India’s Financial Sector Against Cyber Threats



CERT-In and Mastercard Collaborate to Fortify India's Financial Sector Against Cyber Threats

In a move to strengthen the cybersecurity posture of India’s financial sector, the Indian Computer Emergency Response Team (CERT-In) and Mastercard have signed a Memorandum of Understanding (MoU). This collaboration signifies a major step towards enhanced information sharing and cooperation in the fight against cyber threats.

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CERT-In, the national agency for cyber incident response under the Ministry of Electronics and Information Technology, will work alongside Mastercard to leverage their combined expertise. The focus areas of this partnership include:

  • Cybersecurity Incident Response: Both entities will collaborate on effectively responding to cyber incidents impacting the financial sector.
  • Capacity Building: CERT-In and Mastercard will jointly conduct training programs and workshops to equip financial institutions with the latest knowledge and best practices in cybersecurity.
  • Cyber Threat Intelligence Sharing: Sharing relevant cyber threat trends, technical information, and vulnerability reports will be crucial in proactively addressing potential attacks.
  • Advanced Malware Analysis: Collaboration on advanced malware analysis will further strengthen India’s financial sector defenses.

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Government Emphasizes Importance of Cybersecurity

Jitin Prasada, Minister of State in the Ministry of Commerce & Industry and Electronics and Information Technology, highlighted the government’s commitment to ensuring digital platform security. He stated, “Cybersecurity is paramount, and the Prime Minister Narendra Modi government is dedicated to safeguarding people in the digital space. This collaboration marks a significant milestone that will benefit not just the involved entities but also the public at large.”

Mastercard Offers Expertise to Fortify Financial Ecosystem

Mastercard’s South Asia Division President, Gautam Aggarwal, expressed the company’s enthusiasm for the partnership. He said, “Mastercard’s security approach empowers its partners and customers with deeper insights into cyber risks and greater adaptability. We utilize the latest AI technology to protect systems. We are delighted to collaborate with CERT-In to fortify India’s financial digital ecosystem, a key driver of the country’s growth.”

This collaboration between CERT-In and Mastercard signifies a proactive approach towards safeguarding India’s financial sector from evolving cyber threats. By combining expertise and fostering information sharing, both entities aim to create a more secure and resilient financial digital ecosystem for the nation.

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