Mastercard and CERT-In Partners To Bolster Cybersecurity in Finance Sector By CIOTechOutlook Team

Mastercard and CERT-In Partners To Bolster Cybersecurity in Finance Sector

CIOTechOutlook Team | Thursday, 20 June 2024, 05:19 IST

Mastercard and the Indian Computer Emergency Response Team (CERT-In) have joined forces to encourage financial sector cyber security cooperation and information sharing. In accordance with the terms of their Memorandum of Understanding (MoU), they will utilize their shared expertise in the financial sector in the areas of cybersecurity incident response, capacity building, the sharing of financial sector-specific cyber threat intelligence, and advanced malware analysis.

CERT-In is the nation's nodal cyber security agency under the Ministry of Electronics and Information Technology. CERT-In has been assigned to act as National agency for incident response under Section 70B of the Information Technology Act, 2000.

Mastercard and CERT-In have signed a memorandum of understanding, and as part of it, they will hold workshops and training programs to improve financial sector organizations' cyber security and learn about the most recent market trends. In order to improve India's financial sector information security, the two organizations will also share relevant cyber threat trends, technical information, threat intelligence, and vulnerability reports.

“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.