Mastercard launches a global plan for the cybersecurity of the digital ecosystem

The new program is launched to support partners in accelerating their growth and guaranteeing ad hoc IT security and risk management services 21 Feb 2022 Veronica Balocco

Mastercard announces the launch of the new 'Global cybersecurity alliance program' with the aim of supporting all companies and organizations to make their digital ecosystems safer from cyber attacks from suppliers and third parties. According to some estimates, in fact, it is expected that this specific type of risk will represent 60% of the total cyberattacks in 2022. Companies and organizations are under constant pressure to efficiently monitor and secure their online presence and digital ecosystem, including business relationships and supply chains. According to some data recently published by RiskRecon and the Cyentia Institute, it clearly emerges that multi-party cyber breaches (generated through third parties) can cause financial damage up to 26 times more than attacks that have only one primary objective. Understanding the risk from third parties can prove to be a task that requires time and resources, because it involves a structured analysis process of a multitude of factors that contribute to determining a company's overall risk assessment. Furthermore, for many organizations it is increasingly important to understand their risk rating, an element that customers watch carefully when choosing suppliers as a necessary condition for doing business. Index of topics • Monitoring of the supplier network • Global network of partners Monitoring of the supplier network In this context, Mastercard's 'Global cybersecurity alliance program' provides easy-to-use APIs to extend IT risk monitoring and scoring to its partners and suppliers. These elements can then be used to implement a scalable third-party risk reduction program. The objective of the program is therefore very simple: to support companies in improving their IT security against attacks from third parties, thus contributing to greater peace of mind in the entire digital ecosystem. "The acceleration to digital that has characterized the last few years has triggered a significant evolution of digital crime and its methods, bringing out the issue of fraud and cyber crime on a global level like never before", said Michele Centemero, Mastercard's Country Manager Italy. "In a similar context, prevention is the basis of everything and like Mastercard we work to drive innovation, always putting safety at the center and investing in technologies that aim to simplify the activities of companies, enhancing their attractiveness and competitiveness to local and international level ". Global partner network The 'Global cybersecurity alliance program' can already count on a number of important partners in the global sector: Aravo, Archer, Argos Risk, ComplyScore, CyberGRX, Deloitte, EY, HSB / Munich Re, Interos, Kroll, LogicGate, OneTrust, Privva, ProcessUnity, Standard Fusion, TealBook, Tech Mahindra, Venminder, Whistic, Wipro and many other organizations from more highly regulated industries. Alliance partners rely on Mastercard to provide their customers with reliable, accurate and easily deployable cybersecurity solutions, enabling them to improve their exposure to cyber risks and implement a more trusted environment.