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CERT-In, Mastercard join hands to fight Cyber frauds in financial sector

New Delhi, Jun 19 (UNI) With a view to stop the menace of cyber frauds, Government agency Indian Computer Emergency Response Team (CERT-In) under the aegis of Ministry of Electronics and Information Technology, has joined hands with Mastercard to promote cooperation and information sharing in the area of Cyber security related to the financial sector.
The two entities have signed a MoU under which they will leverage their shared expertise with regards to financial sector in the fields of cybersecurity incident response, capacity building, sharing cyber threat intelligence specific to financial sector and advanced malware analysis, Ministry of Electronics & IT said in a statement on Wednesday.
As part of the mutual understanding, Mastercard and CERT-In will hold training programs and workshops for cyber capacity building, latest market trends and best practices to enhance 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.
“Cybersecurity is the need of the hour and the 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,” Jitin Prasada, Minister of State in the Ministry of Commerce & lndustry; and Electronics and Information Technology, 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,” said Gautam Aggarwal, Division President, South Asia at Mastercard.
CERT-In operates 24x7 incident response Help Desk for providing timely response to reported cyber security incidents. CERT-In provides Incident Prevention and Response services as well as Security Quality Management Services.
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