Mastercard has partnered with Dubai International Financial Centre (DIFC) to launch its Global Cyber Forward programme.
The threat of direct and indirect cyberattacks on global businesses could hit a $5.2trn in economic impact over the next five years, according to a study from Accenture.
Global Cyber Forward combines Mastercard’s cybersecurity capabilities with those of leading public sector organisations to create secure digital ecosystems at national, local and city-level, it claims.
Through the partnership with DIFC will help bolster cyber readiness and resilience across the financial industry, enabling effective cybersecurity oversight.
The new program builds on a number of existing partnerships. Mastercard previously launched its European Cyber Resilience Center last year. The lessons from the programme are being implemented into the new global service.
Mastercard president, cyber and intelligence Ajay Bhalla said, “Cybercrime is one of the biggest threats to consumer trust. Without trust we cannot do business – more so now than at any other time in history. We are developing and embedding the latest cyber technologies, in collaboration with our partners around the world, to help advance security and trust in the digital ecosystem. Our partnership with DIFC will help to create more secure and thriving digital economies.”
DIFC Authority CEO Arif Amiri said, “DIFC has the region’s most robust and resilient legal and regulatory framework. Our partnership with Mastercard recognizes the importance of cyber security and will help DIFC clients and the global finance industry accelerate their digital agendas safely and effectively.
“Collaborating with leading, like minded organization on cyber security is a key factor that will help us drive the future of finance.”
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