on May 20, 2018The Monetary Authority of Singapore (MAS) guidelines provides two authoritative sources.
Technology Risk Management Guidelines (TRMG): Internet banking systems and related online technologies have become increasingly complex, sophisticated and diverse. Web applications, server platforms, operating systems, gateways, routers, switches and network connectivity have inter-operated in a variety of ways which escalate and exacerbate cyber security risks. The TRMG contains expanded guidance for combating cyber threats and attacks, including emerging cyber exploits for financial institutions. Technology risk management requirements for strengthening system, network and infrastructure security have also been enhanced.
Business Continuity Management (BCM) Guide: Business Continuity Management (“BCM”) is an over-arching framework that aims to minimize the impact to businesses due to operational disruptions. It not only addresses the restoration of information technology (“IT”)infrastructure, but also focuses on the rapid recovery and resumption of critical business functions for the fulfilment of business obligations.
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Content Source
The source of this content comes from the MAS TRMG Guidelines and BCM Guidelines.
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