Regulatory Alerts2020-11-06
Recommendation 12/2020 on Information Security Requirements for Teleworking and Remote Access
The Magyar Nemzeti Bank issued Recommendation 12/2020 to establish comprehensive information security requirements for financial institutions enabling remote work and remote access. The regulation mandates that institutions implement robust IT security risk assessments, maintain detailed regulatory documents governing teleworking conditions, and enforce strict technical controls for infrastructure, devices, and data handling. Specific requirements include mandatory multi-factor authentication, centralized device management, encryption standards, and stringent restrictions on the use of personal or third-party equipment to protect sensitive institutional data.
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