Mastercard flags rise in cyberattacks across EEMEA region

ISLAMABAD: Mastercard has warned that an increase in cyberattacks is posing a serious risk to businesses and the wider economy in its first Cyber Pulse report covering cyber threats and digital security trends across Eastern Europe, the Middle East and Africa.

Cybercrime in the region rose notably at the start of 2026 amid heightened geopolitical tensions. It states that 71% of cyberattacks are launched either for financial gain or to disrupt institutional systems, creating risks for business continuity and economic stability.

Business systems, consumer data and critical infrastructure are the main targets for cybercriminals, making up 66% of total attacks. Attackers commonly seek to carry out fraud, interrupt operations and, in some cases, inflict physical damage. Government institutions, technology firms and the financial sector were identified as the most frequently targeted areas, with 44% of cyberattacks affecting these sectors because of the sensitive and high-value data they hold.

Selin Bahadirli, Executive Vice President at Mastercard, said cybersecurity had moved beyond the remit of information technology alone and had become central to business resilience and organisational survival. She said organisations needed to go beyond awareness efforts and keep strengthening their preparedness and defence capacity.

The report identifies malware, ransomware and phishing through email as the most common methods used by cybercriminals. Experts recommend that companies focus on web security, data encryption and timely management of vulnerabilities.

Mastercard also highlighted the financial cost of cyber incidents. In the Middle East, the average cost of a data breach or cyberattack has reached about $7.29 million, which is 64% above the global average.

The company said it has invested around $12.6 billion in cybersecurity and digital protection since 2019. In 2025, it processed 175 billion financial transactions and used advanced data science tools to detect potential threats in real time.

Mastercard said cybersecurity was not only vital for large companies but also for millions of small and medium-sized enterprises. As part of its longer-term plans, the company aims to connect 500 million people and small businesses to a secure digital economy by 2030.