Regulatory Alerts2023-01-01
Bank of Jamaica Consultation Paper on the Management of Cyber Risks
The Bank of Jamaica issued this consultation paper to gather stakeholder feedback on draft guidelines establishing minimum standards for cyber risk management within Jamaican deposit-taking institutions. The proposed framework mandates robust board oversight, the implementation of a three-lines-of-defense model, and the establishment of clear roles for senior management and specialized security officers. These requirements aim to ensure comprehensive identification, mitigation, and reporting of cyber threats to protect financial stability and institutional resilience.
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