“Looking 10 to 15 years ahead allows us to guard against strategic surprises”
Rachi highlighted the increasing complexity of cyber threats and their deep societal impact. “Cyber crime is no longer just a collection of isolated incidents. It has evolved into a fully developed industry, commoditised and accessible to those willing to pay,” she stated. “From fake software updates spreading malware to credential theft and the growing prominence of cyber-crime-for-hire services, attackers have become faster, more precise and more scalable.”
One of the key trends she identified was the dark web’s role in enabling cyber criminals. “Everything is for sale: DDoS attack tutorials, phishing kits and access credentials. Organisations need to assume that their information is a target and act accordingly,” she warned. Rachi also underlined the significant role AI plays in amplifying these threats. “Phishing attacks are now so tailored and convincing that even cyber security professionals pause to verify them. Imagine how difficult this is for the average employee or consumer.”
Cyber resilience: a collective effort
Belgium has set itself the ambitious goal to be one of the least vulnerable countries in Europe when it comes to cyber security. Fadwa Rachi acknowledged the importance of collaboration between government, industry and academia in achieving this goal. “Mastercard, along with other industry players, is actively working to protect infrastructures, employees and consumers, but cyber security cannot be addressed in silos,” she stressed.
A culture of security awareness is key. Employees must be equipped with knowledge, such as recognising the dangers of reusing passwords or falling victim to social engineering tactics. “Security is not just the responsibility of IT teams. It must be embedded in the DNA of every organisation,” she asserted. The implementation of multi-factor authentication and Zero Trust frameworks, where breaches are assumed and continuously mitigated, were highlighted as necessary steps.
Collaboration remains the key to resilience
Beyond addressing current risks, Rachi emphasised the importance of ‘threatcasting’ as a methodology to anticipate future cyber threats. “Looking 10 to 15 years ahead allows us to guard against strategic surprises,” she explained. Mastercard, in collaboration with experts and researchers, uses this approach to identify potential cyber risks and develop proactive strategies.
Emerging technologies such as AI, 6G networks and autonomous software will become so embedded in daily operations that threats may become nearly imperceptible. “We must prepare now to prevent a future where cyber risks outpace our ability to respond,” she cautioned.
Fadwa Rachi’s final message was one of collective action. “Cyber criminals collaborate, and so must we. Public/private partnerships, information-sharing and cross-border cooperation are essential. We all have a role to play in protecting the digital ecosystem.”
