Regulatory Alerts2021-06-01
Added
Advisory on Addressing the Technology and Cyber Security Risks Associated with Public Cloud Adoption
The Monetary Authority of Singapore issued this advisory to require financial institutions to comprehensively manage technology and cyber security risks associated with public cloud adoption. It mandates the implementation of robust controls including identity and access management, data encryption, secure application development, and clear delineation of shared security responsibilities with cloud service providers. Additionally, institutions must address cloud resilience, outsourcing due diligence, vendor lock-in, and ensure staff possess adequate technical expertise to govern these environments effectively.
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