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CERT-In and Mastercard Signs MoU to Enhance Cybersecurity in Financial Sector

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The Indian Computer Emergency Response Team (CERT-In), an arm of the Ministry of Electronics and Information Technology, has entered into a strategic partnership with Mastercard to bolster cybersecurity in India’s financial sector. CERT-In, designated as the national agency for incident response under Section 70B of the Information Technology Act, 2000, and Mastercard have signed a Memorandum of Understanding (MoU) aimed at enhancing cooperation and information sharing.

This collaboration will leverage both organizations’ expertise in cybersecurity incident response, capacity building, sharing financial sector-specific cyber threat intelligence, and advanced malware analysis. As part of the agreement, CERT-In and Mastercard will conduct training programs and workshops focusing on cyber capacity building, market trends, and best practices to fortify financial sector organizations’ security.

Furthermore, the partnership will facilitate the exchange of relevant cyber threat trends, technical information, threat intelligence, and vulnerability reports to reinforce the financial sector’s information security in India.

“Cybersecurity is the need of the hour, and the Prime Minister Narendra Modi’s government is dedicated to ensuring the security of individuals on digital platforms. This collaboration is a significant milestone that will benefit both entities and the public at large,” stated Shri Jitin Prasada, Minister of State in the Ministry of Commerce & Industry and Electronics and Information Technology.

Gautam Aggarwal, Division President, South Asia at Mastercard, expressed enthusiasm about the partnership, highlighting Mastercard’s advanced AI technology in protecting systems. “Mastercard’s comprehensive approach to security provides its partners and customers with deeper visibility into cyber risks and greater adaptability and resilience. We are delighted to collaborate with CERT-In to fortify India’s financial digital ecosystem, which has fueled unprecedented growth in the country,” Aggarwal said.

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