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MAS set of legally binding requirements regarding cyber hygiene
Monetary Authority of Singapore legally binding requirements to raise the cyber security standards and strengthen the cyber resilience of the financial sector. Financial institutions are required to comply with the following requirements: i) establish and implement robust security for IT systems; ii) ensure updates are applied to address system security flaws in a timely manner; iii) deploy security devices to restrict unauthorized network traffic; iv) implement measure to mitigate the risk of malware infection; v) secure the use of system accounts with special privileges to prevent unauthorized access; and vi) strengthen user authentication for critical systems as well as systems used to access customer information.
Publisher:
National Regulators
Release date:
Aug 2019
Country:
Singapore
Type:
Law, Regulation and Policy
Topics:
Cyber risk, Operational risk
Sectors:
Banking, Insurance, Pensions, Securities
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