Mastercard announce new head of cybersecurity solutions unit
Leading cybersecurity expert Simon Hunt will join cashless transaction provider Mastercard as executive vice president, and head of its cybersecurity solutions unit. Hunt’s new role will “further enhance Mastercard’s security capabilities,” in light of the growing threat from cybercrime, and he has been a figure of renown in the industry for 20 years. He ahs previously served in executive tech roles at McAfee, Intel, and data protection firm Winmagic.
Mastercard’s share price has risen by 27% so far this year
Source: Yahoo Finance
Ajay Bhalla, Mastercard’s chief security solutions officer, said: “The digital security ecosystem is only as strong as its weakest link. We believe it’s time to redefine the rules for good cybersecurity practice and use the latest technologies, including artificial intelligence, to help protect those sectors that need the most support. Bringing a proven cybersecurity leader like Simon on board will help us continue to build out and enhance our multi-layered defense approach for our customers, cardholders, merchants and other stakeholders.”
Cybercrime is forecast to double in the next five years, hitting $6 trillion by 2021. That’s an obvious threat to business revenues, but it can also have catastrophic knock-on effects. Third party leaks, public relations, and the interruption of crucial services are just some of these threats.
Hunt will be responsible for cybersecurity across the whole business, as well as “industry standards, fraud reporting, Security Labs, and cyber partnership programs,” according to a press release.
Dominion holds Mastercard in its Global Trends Ecommerce Fund.
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