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'First of its kind' cybersecurity training in Malaysia draws financial regulators from 35 countries

AvantiKumar | Aug. 8, 2017
The Alliance for Financial Inclusion (AFI) and Mastercard co-host a two-day cyber breach prevention event in Kuala Lumpur.

IAF, Mastercard in Malaysia

Photo - The 'first of its kind' training on cybersecurity for financial regulators, brings together more than seventy participants from over 35 countries.

 

  The Alliance for Financial Inclusion (AFI) and Mastercard have co-hosted a 'first of its kind' cybersecurity training event in Malaysia for financial regulators from 35 countries.
 
More than 70 participants at the two event - Cybersecurity Challenges and Resilience Management regulatory training - focused on sharing the best ways to detect, prevent, and respond to cyber-attacks.

Mastercard and industry security experts provided expertise on cybercrime and data breach detection, mitigation and prevention strategies, as well as suggesting policies to enhance trust in digital payments.

This training was conducted within the framework of AFI Public-Private Dialogue (PPD), explained Dr. Alfred Hannig, who is executive director at AFI.

Dr Hannig said the PPD, a global platform, allows members to engage in systematic dialogue and knowledge sharing with key private sector partners. The aim is to address critical challenges and opportunities thrown up from the adoption of digital financial services for financial inclusion.

Dr. Hannig also highlighted that the PPD evolved over the years, with some very effective results. "The 2017 results of AFI's Member Needs Assessment show an impressive 88.2% rating for PPD partners, adding value to AFI's capacity building events. It also shows an 88.0% rating on the knowledge gained from private sector partners contributing to implementing in-country policy changes. The demand for in depth technical training by PPD partners rated 86.7% amongst AFI members. Capacity building is one of the seven strategic pillars of AFI and trainings under the PPD initiative is an important service AFI provides to its members," he noted.

"For over 50 years, Mastercard has been at the forefront of safeguarding the payment ecosystem with innovative solutions to mitigate fraud risk," commented Ravi Aurora, executive director, Global Policy Affairs & Community Relations, Mastercard.

"With global cybersecurity threats becoming ever more sophisticated and stronger, AFI's PPD platform provides us the unique opportunity to share information and best-practices to help build capacity and keep payments safe against such threats," said Aurora.

Dr Hannig added: "We believe impactful financial inclusion happens only through effective stakeholder partnerships, to which PPD initiatives are critical contributors. Mastercard continues to be a key AFI PPD partner. With our partnership in its 4th year, Mastercard has been extremely receptive to the evolving needs of AFI members. It has worked closely with the AFI Capacity Building and Policy team to continually refine the content and delivery of the trainings."

For some recent local security news, see:

 

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