DBT Bureau
Bengaluru, 23 June
Indian Computer Emergency Response Team (CERT-In) has tied up with Mastercard to promote cooperation and information sharing in the area of cyber security related to the financial sector.
In an announcement, the Ministry of Electronics & IT of India said that both organisations would leverage their shared expertise with regards to financial sector in the fields of cybersecurity incident response, capacity building, sharing cyber threat intelligence specific to the financial sector, and advanced malware analysis.
Under this collaboration, Mastercard and CERT-In will hold training programs and workshops for cyber capacity building, the latest market trends, and best practices to enhance the 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, the release said.
“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.
Commenting on the collaboration, Gautam Aggarwal, Division President, South Asia at Mastercard said, “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.
According to cyber security firm- Check Point, the number of cyberattack cases in India increased by 15% per week on an average in 2023, trailing only Taiwan in the Asia Pacific region.
“In 2023 India received 2,138 weekly attacks per organisation, which is a 15 per cent surge since 2022. Within APAC, India emerges as the second most targeted nation with 2,138 weekly attacks per organization, trailing only behind Taiwan’s 3,050 incidents,” Check Point has said.
