New mandatory rules from next year for financial industry to combat cyber threats: MAS

SINGAPORE: Financial institutions must comply with a new set of requirements by next year to"raise the cyber security standards and strengthen cyber resilience" of the sector, the Monetary Authority of Singapore said on Tuesday .

These requirements include having robust security for IT systems, ensuring updates are applied to address system security flaws in a timely manner, and deploying security devices to restrict unauthorised network traffic. "The financial sector needs to remain vigilant and ensure that defences are able to counter varied and evolving threats.

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MAS consultation paper proposes new rules to control market abuseTHE Monetary Authority of Singapore (MAS) is seeking to impose new requirements on Singapore financial institutions (FIs) to improve controls and facilitate investigations in cases of market abuse. Read more at The Business Times.
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