MAS and Mastercard signs deal to bolster financial sector’s cyber resilience

The two parties aim to work together to formulate solutions that will help enhance cybersecurity.

The Monetary Authority of Singapore (MAS) and Mastercard have teamed up to boost cooperation in cybersecurity.

The memorandum of understanding signed on 9 April 2024 aims to “strengthen cyber resilience in the financial services sector in Singapore,” the parties said in a joint statement.

Through this partnership, MAS and Mastercard said they will be able to cement their collaboration in terms of sharing information about cyber threat intelligence, analysing the latest risks affecting the sector to come up with possible actions, and conducting competence-building activities.

“Synergising our resources and expertise, we will advance on our joint commitment towards securing the financial ecosystem and enhancing cyber resilience in Singapore and beyond,” said Ari Sarker, president for Asia Pacific at Mastercard.

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