Mastercard and the ASEAN Foundation have announced a new program to strengthen cybersecurity across Southeast Asia.
The ASEAN Foundation and Mastercard Cybersecurity Resilience Program will focus on three key pillars: raising awareness, providing skills and training, and increasing capabilities through technology and intelligence.
The initiative comes as the region is experiencing rapid digital economic growth, with a compound annual growth rate of 27% since 2021, and a staggering 82% increase in cybercrime from 2021 to 2022. We are recording an increase.
The program will pay special attention to small and medium-sized enterprises (SMEs), which represent 97% of all businesses in Southeast Asia and are particularly vulnerable to cyber-attacks.
To support small and medium-sized enterprises, master card provides access to the Trust Center, an online portal with free resources and tools, and the My Cyber Risk tool to help businesses identify vulnerabilities.
The program will also offer workshops and webinars to educate small businesses about emerging cyber threats.
The program provides specialized webinars on cybersecurity challenges for the public sector, conducts crisis simulation exercises to assess cyber preparedness, and develops research reports and risk assessment tools for ASEAN governments. Masu.
This collaborative approach aims to foster public-private partnerships in the fight against cybercrime.
This commitment builds on Mastercard’s continued commitment to cybersecurity around the world and within Southeast Asia.
The company plays a leading role in initiatives such as the United Nations Development Program’s Global Coalition Against Digital Fraud, and works with organizations such as Singapore’s Nanyang Technological University and Indonesia’s Indosat to strengthen cybersecurity capabilities.
With investment in cybersecurity in the region growing at 14% annually, this program addresses the urgent need to close the gap between investment and rapidly growing cyber threats.
By strengthening cybersecurity capabilities and expertise, the initiative aims to build a strong digital ecosystem, create new opportunities for individuals and businesses, and accelerate inclusive growth in Southeast Asia. Masu.
Satvinder Singh, Deputy Secretary-General of the ASEAN Economic Community, said:
“Achieving ASEAN’s digital economy vision includes strengthening regional integration that enables businesses to operate seamlessly while providing consumers with efficient and secure digital services, including electronic payment solutions.
At the heart of this transformation is the need to strengthen cyber resilience in the evolving nature of increasingly sophisticated and pervasive cyber threats. ”
Safdar Khan, President of Mastercard Southeast Asia, said:
“This important collaboration with the ASEAN Foundation to strengthen cybersecurity capacity across Southeast Asia underscores Mastercard’s commitment to strengthening trust in the digital world.
By delivering impactful initiatives for both the public sector and small and medium-sized enterprises, this collaboration will contribute to a secure and resilient digital ecosystem for all participants, creating countless new opportunities for individuals and businesses. and accelerate inclusive growth in Southeast Asia, including Malaysia. ”
Featured image: (from left) Rigo Van den Broeck, Executive Vice President, Cybersecurity Solutions, Mastercard; Karthik Ramanathan, Senior Vice President, Cyber & Intelligence Solutions, Asia Pacific, Mastercard. Dr. Piti Srisannam, Executive Director, ASEAN Foundation; His Excellency Satvinder Singh, ASEAN Deputy Secretary General for the ASEAN Economic Community.
