Revised Technology Risk Management Guidelines released by MAS.

In the wake of growing cyber-attacks in recent years which targeted multiple IT service providers, the Monetary Authority of Singapore on Monday 18th January issued revised Technology Risk Management guidelines.

This comes amid aggravating cybersecurity issues and a growing threat landscape in the Industry. The revised guideline applies to all banks, payment services firms’ brokerage, and insurance firms. The guidelines were revised to address technology and cyber risks in the industry.