Mastercard
Launches AI-Powered Solution To Protect The Digital Ecosystem

Cyber
SecureTM
advances first set of integrated cyber capabilities for banks &
their businesses

November
05, 2020, Purchase
– Mastercard today announced Cyber Secure, a first-of-its-kind,
AI-powered suite of tools that allows banks to assess cyber risk
across their ecosystem and prevent potential breaches. With
these capabilities, banks can identify
and prioritize threats and vulnerabilities throughout their cyber
environment. Additionally, acquiring banks can help merchants
understand their own cyber risk, preventing hundreds of millions of
dollars in potential fraud.

As
the digital economy expands, both in size and complexity, so too do
its points of vulnerability that may be subject to attack. One
example of this is the rapidly advancing Internet of Things - 2.5
quintillion bytes of data are generated by people and their devices
every day, with 90% of this generated in the last two years alone.1
It
is estimated that one business will fall victim to a ransomware
attack every 11 seconds by next year2.

“The
world today faces a $5.2 trillion cyber breach problem3.
This is one of the biggest threats to consumer trust. At
Mastercard, we aim to stay ahead of fraudsters and to continually
evolve and enhance our protection of cyber environments for our bank
and merchant customers. With Cyber Secure, we have a suite of
AI-powered cyber capabilities that allows us to do just that,
ensuring trust across every experience, for businesses and
consumers,” said Ajay Bhalla, president, Cyber & Intelligence,
Mastercard.

Cyber
Secure is a big step forward in the continuous quantifying and
prioritizing of cyber vulnerabilities.
By empowering banks with the ability to continuously monitor and
track their cyber posture, it moves our industry to a more proactive
state in managing and preventing data compromise, protecting the
integrity of the payment ecosystem and consumer data. In addition, it
helps to reduce
financial losses associated with attacks, saves time and resources,
and provides a comprehensive view of cyber risk through one
application.

Drawing
on the industry-leading capabilities of RiskRecon, acquired by
Mastercard in 2020, the risk assessment is performed using advanced
AI that combines multiple public and proprietary data sources. The AI
evaluates the data against 40 security and infrastructure criteria,
with the impact and importance of each vulnerability analyzed to
produce a cyber risk rating and issue priority navigator.

In
2019, Mastercard saved stakeholders $20bn of fraud through its
AI-enabled cyber systems. Cyber
Secure forms a key part of Mastercard’s multi-layered cyber
security strategy to secure the ecosystem, protect cyber
environments, define industry standards and collaborate across
industries.

###

For
more details on Cyber Secure

Cyber
Secure is an integrated platform that builds upon the existing
Mastercard Account Data Compromise Program.  Cyber Secure honors
website restrictions and applicable cybersecurity laws. For
additional information on Cyber Secure, merchants may visit
https://www.mastercard.us/en-us/business/overview/safety-and-security/cyber-security.html. 
Merchants may also request a cyber risk rating of their business
through their acquiring bank or Mastercard at
cybersecure@mastercard.com.

About
Mastercard (NYSE: MA)

Mastercard
is a global technology company in the payments industry. Our mission
is to connect and power an inclusive, digital economy that benefits
everyone, everywhere by making transactions safe, simple, smart and
accessible. Using secure data and networks, partnerships and passion,
our innovations and solutions help individuals, financial
institutions, governments and businesses realize their greatest
potential. Our decency quotient, or DQ, drives our culture and
everything we do inside and outside of our company. With connections
across more than 210 countries and territories, we are building a
sustainable world that unlocks priceless possibilities for all.

Contacts

Dania Saidam dania.saidam@mastercard.com

+44 (0)7980 782 750

RELATED STORY:

Cyber Secure FAQ

Overview

What
is Mastercard Cyber Secure?

Cyber
Secure is a first-of-its-kind, AI-powered suite of tools that allows
banks to assess cyber risk across their ecosystem and prevent
potential breaches. With these capabilities, banks can identify and
prioritize threats and vulnerabilities throughout their cyber
environment. Additionally, acquiring banks can help merchants
understand their own cyber risk, preventing hundreds of millions of
dollars in potential fraud.

What
are the benefits for issuers and acquirers?

By
empowering banks with the ability to continuously monitor and track
their cyber posture, Cyber Secure moves our industry to a more
proactive state in managing and preventing data compromise,
protecting the integrity of the ecosystem and consumer data. In
addition, it helps reduce financial losses associated with attacks,
saves time and resources, and provides a comprehensive view of cyber
risk through one application.

Does
Cyber Secure guarantee protection from data breaches?

No.
Cyber Secure provides a suite of capabilities that enable financial
institutions to identify and prioritize cyber threats and
vulnerabilities. Should a breach occur, Cyber Secure helps financial
institutions to detect and possibly resolve the breach faster,
reducing their potential fraud losses.

In
what markets is Cyber Secure available?

Cyber
Secure is available globally to all issuers and acquirers.

How
does Cyber Secure compare to other services in the market?

Cyber
Secure is the only solution in the market offering an integrated and
holistic view of cyber risk, combining data compromise detection and
cyber risk assessment capabilities within a single solution that uses
advanced AI and machine learning technologies to protect the entire
digital ecosystem. While some competitors may have certain cyber
security capabilities, only Cyber Secure maintains the most robust,
comprehensive set of capabilities.

Are
issuers and acquirers required to participate in Cyber Secure?

Yes,
Mastercard is requiring the participation of all customers within
Cyber Secure to protect the entire digital ecosystem, enabling cyber
risk management at multiple stakeholder touchpoints. Under
current Mastercard Standards, customers are required to participate
in the ADC (Account Data Compromise) Program available through the
Manage My Fraud & Risk application. Cyber Secure hosts the
enhanced ADC Program, so
all issuers and acquirers are required to participate in the enhanced
ADC Program hosted on Cyber Secure. Mastercard automatically enrolls
all new and existing issuers and acquirers in Cyber Secure.

How
it Works

How
does Cyber Secure work?

Cyber
Secure provides
issuers and acquirers with insights into compromised data, as well as
cyber risk rating and actionable plans for cyber vulnerabilities
including:

• Predictive
  notifications
  of PANs potentially at risk for fraud as a result of account data
  compromise
  
  
• A
  cyber risk rating
  based on an aggregated risk assessment of vulnerabilities found
  within their cyber environments, as well as their customers' cyber
  environments (acquirers' online merchants involved in data
  compromise investigations)
  
• Account
  Data Compromise (ADC) alerts
  supporting potential account data compromise
  
• Actionable
  plans
  to mitigate existing vulnerabilities within their cyber environment
  

Financial
institutions can receive
alerts, report
potential ADC events,
manage
cases (acquirers only),
receive
cyber risk snapshots (all acquirers' online merchants)
and receive
detailed cyber risk reports.

For
which transactions is Cyber Secure available?

The
data compromise detection capabilities available via Cyber Secure
support all Mastercard® brands (i.e. Mastercard, Maestro®, and
Cirrus®), segments (i.e., consumer and commercial) and products
(i.e. credit, debit). Cyber Secure cyber risk scoring capabilities
are brand and payment agnostic.

Cyber
Strategy

What
is Mastercard’s cyber security strategy? How does Cyber Secure
feature in that strategy?

Mastercard
has a multi-layered cyber security strategy to secure the ecosystem,
protect cyber environments, define industry standards and collaborate
across industries and government. Cyber Secure is a key part of the
strategy to protect cyber environments, evaluating and mitigating
cyber vulnerabilities across all stakeholder touchpoints.

What
is a cyber risk rating?

A
cyber risk rating is determined by passively evaluating the security
and infrastructure safeguards and gaps in an organization’s online
cyber environment without interfering in its day-to-day business.
With Cyber Secure, the cyber risk rating is calibrated by evaluating
over 40 criteria across 11 security domains (including email
security, data loss history, governance, threat intelligence, web
encryption, software patching, system hosting). Cyber risk rating
also assesses the business impact and criticality of each
vulnerability uncovered to help determine an organization’s final
cyber risk rating .

How
do Cyber Secure and RiskRecon work together?

Cyber
Secureidentifies
cyber threat vulnerabilities of financial institutions and their
customer relationships (acquirers' online merchants). RiskRecon
provides the underlying cyber risk rating capabilities that enable
Cyber Secure. RiskRecon also allows issuers and acquirers to further
assess the cyber risk from all their third-party service provider and
vendor relationships should they want to extend their cyber risk
visibility beyond their own organizations and those of their
customers (acquirers' online merchants) enabled by Cyber Secure.

How
does Cyber Secure differ from Safety Net?

Cyber
Secure and Safety Net are both part of Mastercard’s comprehensive
approach to cyber security. While both solutions passively monitor
environments for risk and notify financial institutions of identified
risk, they do so in different ways. Safety Net monitors authorization
activity across the Mastercard payment network to detect large-scale
fraud and cyber attacks. It specifically evaluates payment
transactions that are processed via the Mastercard network. Cyber
Secure monitors the cyber presence of issuer and acquirer
organizations to detect vulnerabilities that could lead to potential
data compromise as a result of cyber attacks. This is not specific to
transactions managed via the Mastercard payment network.

How
can I learn more about Cyber Secure?

Cyber
Secure is an integrated platform that builds upon the existing
Mastercard Account Data Compromise Program.  Cyber Secure honors
website restrictions and applicable cybersecurity laws. For
additional information on Cyber Secure, merchants may visit
https://www.mastercard.us/en-us/business/overview/safety-and-security/cyber-security.html. 
Merchants may also request a cyber risk rating of their business
through their acquiring bank or Mastercard at
cybersecure@mastercard.com.