Regulatory Alerts2014-06-26 | Banking Act Directions No. 4 of 2014Added · Updated
Baseline Security Standard for Information Security Management
The Central Bank of Sri Lanka, in collaboration with the Sri Lanka CERT|CC and the Sri Lanka Banks' Association, has issued the Baseline Security Standard (BSS) to mandate comprehensive information security controls across financial institutions and their third-party service providers. The standard requires organizations to implement a structured risk management framework aligned with ISO 27005, covering fourteen key security domains including asset classification, third-party risk management, human resource security, and operational controls. Financial institutions must achieve full compliance within a twelve-month implementation period, with ongoing oversight by the Bank Computer Security Incident Response Team and periodic revisions to maintain regulatory conformance and mitigate financial fraud risks.
More like this from CBSL
CBSL published 1 document in the last 30 days. We email you each new one the day it's published.