Monetary Authority of Singapore tightens cyber security rules for financial institutions
Regulator is proposing to make six existing guidelines legally binding
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Claudia Chong
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Singapore
THE Monetary Authority of Singapore (MAS) has moved to tighten the rules on cyber security for financial institutions (FIs) in Singapore by proposing to make legally binding a set of six essential cyber security measures to protect their IT systems.
The measures are already part of its existing MAS Technology Risk Management Guidelines, but the financial regulator is proposing to raise them into legally binding requirements.
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