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FS-ISAC and MAS launch regional office in Singapore to step up fight against cybercrime

THE Financial Services Information Sharing and Analysis Center (FS-ISAC) has collaborated with the Monetary Authority of Singapore (MAS) to launch a regional centre in Singapore to fight cybercrime.

The setting up of FS-ISAC Asia Pacific regional analysis centre in Singapore is in line with the need to strengthen local intelligence capabilities and cyber resilience at both a regional and global level to stay ahead of cybercrime, said FS-ISAC president and CEO Bill Nelson in a joint statement.

"Strengthening our presence in Asia-Pacific helps build the resilience of the entire global financial services sector," he added."

The centre supports 49 financial institutions across nine Asia-Pacific countries.

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The FS-ISAC is a non-profit group established by the financial industry to provide information on cybersecurity threat for the broader industry .

"The centre's operations and the regional intelligence reports it produces will help Asia-Pacific countries to deal better with cross-border cybercrimes," said Sopnendu Mohanty, MAS's chief fintech officer.

The centre provides 24/7 local and global coverage with threat information sharing, actionable intelligence, as well as tools and resources to respond to incidents. Members also benefit from regional meetings, regionally-focused monthly threat calls, webinars on hot topics, cybersecurity training and summits.

To grow talent in the area, FS-ISAC has signed a memorandum of understanding with Temasek Polytechnic to provide internship opportunities for students who will be exposed to real world cyberthreats to build their skills.