The collaboration will see Mastercard and the UAE Cyber Security Council (CSC) collaborate on best practices and develop “forward‑looking cybersecurity policies,” while also launching a report on the state of the UAE cybersecurity landscape, the payments giant said in its announcement Thursday (Feb. 5).
“As the UAE advances its digital transformation, exposure to cybercrime grows, with risks to critical sectors escalating exponentially, driven by AI and other threats,” said H.E Mohamed Alkuwaiti, head of cybersecurity for the UAE government.
“In this rapidly evolving landscape, CSC and Mastercard share an unwavering commitment to building a secure and prosperous digital future.”
According to the announcement, the joint report spotlights an increasingly complex threat ecosystem, with malicious actors prioritizing critical sectors and high-value national assets, “reflecting a broader escalation in cyber risk.”
Mastercard noted that it has, since 2018, invested $10.7 billion in cybersecurity-related acquisitions and solutions. In the last decade, Mastercard’s artificial intelligence (AI) tools blocked fraudulent transactions worth $70 billion, per the announcement.
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“Our collaboration will help CSC assess emerging cyber-risks and protect both people and organizations against them,” said Jon M. Huntsman, Jr., Mastercard’s vice chairman and president for strategic growth.
While AI is helping cybercriminals, it can also allow governments to bolster their cyberdefenses, as PYMNTS wrote last month.
For example, the UAE Ministry of Interior has deployed AI and advanced analytics within its Cybercrime Combating Department to bolster investigations into digital and financial crimes. Officials say artificial intelligence systems help analyze immense volumes of digital evidence, determine links between cases, and explore the origins of cyber incidents more quickly than manual methods.
“At the enterprise level, large technology providers are embedding AI into financial crime and security workflows,” the report added.
“Oracle, for example, uses AI-based investigation tools to assist analysts by gathering evidence, connecting related cases, and highlighting higher-risk activity.”
Meanwhile, research from a PYMNTS Intelligence report, “The AI MonitorEdge Report: COOs Leverage GenAI to Reduce Data Security Losses,” found that more than half (55%) of companies are using AI-powered cybersecurity measures.
“Used responsibly, AI does not replace sound governance or accountability, but it can provide the visibility and speed that modern supply chains demand, and that traditional, checklist-driven security models may no longer be able to effectively deliver,” PYMNTS wrote last month.
