Complying with Monetary Authority of Singapore (MAS) Cyber Hygiene guidelines

The Monetary Authority of Singapore (MAS) published updated Cyber Hygiene legal requirements. The rapidly evolving nature of cyber threats and the acceleration of digital transformation has resulted in the elevation of the Cyber Hygiene guidelines contained in the Technology Risk Management (TRM) guidelines into legally binding requirements. The guidelines address risk management principles and best practice standards to guide financial institutions in establishing a sound and robust framework with the aim of strengthening system security, reliability, resiliency, and recoverability as well as deploying strong foundations to protect customer data, transactions, and systems. This white paper will give an overview of the six legally binding pillars recommended for organisations to manage cyber threats.