Mastercard has launched its first European edition of the Cyber Defence Exercise (CDX), bringing together key players from the financial and telecommunications sectors to simulate and combat real-world cyber threats.

Mastercard said it has hosted the first European edition of its multi-sector cyber defence exercise (CDX) at the European Cyber Resilience Centre, as it seeks to test evolving cyber threats in real time and boost cross-collaboration across sectors.

On Wednesday, cross-sector teams from BT Group, Deutsche Bank, ING, Proximus and Santander participated in the payments giant’s exercise in Waterloo, Belgium.

The CDX staged a virtual dynamic exercise in which red and blue teams competed a series of tests to check organisations' response to complex and coordinated cyber threats, both technically and strategically.

The exercise brought together technical teams and senior executives from the financial and telecommunications sectors for a real-time exercise that simulated a sophisticated and complex cyber-attack.

During the test, red teams focused on the offensive, executing attack paths including supply chain compromise, Distributed Denial of Service (DDoS), credential theft and data exfiltration. Meanwhile, blue teams collaborated in real time to detect, classify and respond.

Simultaneously, executives managed crisis governance, legal and regulatory engagement, and strategic communications to determine whether the cyber event could remain an incident or become a public crisis.

The event also featured public sector partners, including Information Sharing and Analysis Centres (ISACs), which provided their expertise in managing attack scenarios, coordinating real-time responses, and testing playbooks.

The payment giant said this initiative was undertaken in response to the intensification of cyber threats in Europe, which are putting pressure on businesses of all sizes.

Research conducted by Mastercard reveals that one in four small business owners in Europe have been victims of fraudsters, with many fearing they will have to close their businesses after an attack.

As for European consumers, 72 per cent say they are more concerned than they were two years ago about cybersecurity risks affecting their lives.

The simulated environment was supported by Dell Technologies, Fortinet, Intel, World Wide Technology (WWT) and Immersive Labs.

Michael Lashlee, chief security officer at Mastercard, warned that cyber threats are increasing regardless of geographical location or sector.

“CDX is about deepening collaboration, strengthening trust, and building resilience for Europe to stay protected,” he added.

Brent Phillips, chief security officer at Deutsche Bank emphasised the importance of cross-communication to prevent cyber-attacks.

“Information security remains a moving target and exercises such as this help to ensure that we too keep moving,” he continued.

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