Mastercard and the ASEAN Foundation have announced a new programme to bolster cybersecurity across Southeast Asia.
The ASEAN Foundation-Mastercard Cybersecurity Resilience Programme will focus on three key pillars: raising awareness, providing skills and training, and improving capacity through technology and intelligence.
This initiative comes as the region experiences rapid digital economic growth, with a compounded annual growth rate of 27% since 2021, coupled with an alarming 82% rise in cybercrime between 2021 and 2022.
The programme will pay special attention to small and medium-sized enterprises (SMEs), which account for 97% of all businesses in Southeast Asia and are particularly vulnerable to cyberattacks.
To support SMEs, Mastercard will provide access to its Trust Center, an online portal with free resources and tools, and its My Cyber Risk tool, which helps businesses identify vulnerabilities.
The programme will also offer workshops and webinars to keep SMEs informed about emerging cyber threats.
For the public sector, the programme will deliver specialised webinars on cybersecurity challenges, conduct crisis simulation exercises to assess cyber readiness, and develop research reports and risk assessment tools for ASEAN governments.
This collaborative approach aims to foster public-private partnerships in the fight against cybercrime.
This initiative builds on Mastercard’s ongoing commitment to cybersecurity globally and within Southeast Asia.
The company plays a leading role in initiatives like the United Nations Development Programme’s Global Coalition Against Digital Scams and collaborates with organisations like Singapore’s Nanyang Technological University and Indosat in Indonesia to boost cybersecurity capabilities.
While cybersecurity investments in the region are growing at 14% annually, this programme addresses the urgent need to close the gap between investment and the rapidly escalating cyber threats.
By enhancing cybersecurity capacity 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.
Satvinder Singh, Deputy Secretary-General of ASEAN for ASEAN Economic Community, said,
“Achieving ASEAN’s Digital Economy vision will involve enhanced regional integration to enable businesses to operate seamlessly while offering consumers efficient and secure digital services, including e-payments solutions.
At the heart of this transformation lies the need to strengthen cyber resilience in the ever-evolving nature of cyber threats, which have become increasingly sophisticated and pervasive.”
Safdar Khan, Division President, Southeast Asia, Mastercard, said,
“This significant collaboration with the ASEAN Foundation to strengthen cybersecurity capabilities throughout Southeast Asia underscores Mastercard’s commitment to bolster trust in the digital world.
By delivering impactful initiatives for both public sector and SMEs, this collaboration will contribute towards a secure, resilient digital ecosystem for all participants, enabling countless new opportunities for individuals and businesses, and accelerating 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 Srisangnam, Executive Director of ASEAN Foundation; H.E. Satvinder Singh, Deputy Secretary-General of ASEAN for ASEAN Economic Community.
