Remember the good old days when verifying a credit card involved little more than matching signatures on a card and a receipt? If your signature looked like a squiggly line of abstract art, you might have been home free. Those simpler times are long gone, replaced by the sophisticated world of modern cybercrime and cybersecurity.
Mastercard has announced the acquisition of global threat intelligence leader Recorded Future from Insight Partners to further secure the digital economy for $2.65 billion. This strategic move highlights Mastercard’s commitment to evolving beyond basic security measures to tackle today’s complex cyber threat landscape.
Recorded Future, the world’s largest threat intelligence company, serves over 1,900 clients in 75 countries, including governments and Fortune 100 firms. By harnessing advanced AI and extensive data analysis, Recorded Future provides real-time insights into potential cyber threats, enabling organizations to proactively address risks before they become problems.
Craig Vosburg, Chief Services Officer at Mastercard, remarked, “Trust is the foundation of any relationship. Recorded Future adds to how we deliver that greater peace of mind before, during, and after the payment transaction. Together, we will innovate faster, create smarter models, and anticipate emerging threats before cyberattacks can take place – in payments and beyond.”
Cybercrime Threat
Christopher Ahlberg, CEO of Recorded Future, echoed the strategic value of the partnership: “Fifteen years ago, we created Recorded Future with a simple goal to secure the world with intelligence. By joining Mastercard, we see an opportunity to help more businesses and governments determine the steps to realize their full potential – and to enable everyone to feel safer in their daily lives.”
With cybercrime projected to cost $9.2 trillion globally in 2024, the need for advanced security measures has never been greater. Integrating Recorded Future’s capabilities will enhance Mastercard’s identity verification, fraud prevention, and real-time decision-making services, ensuring robust security for its merchants and financial institutions network.
Pending regulatory approvals, this acquisition is expected to close by the first quarter of 2025. It underscores Mastercard’s need to maintain cybersecurity, trust, and resilience in the ever-evolving digital landscape.
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