Regulatory Alerts2020-10-01
Central Bank of Solomon Islands Prudential Guideline No.20 on Cybersecurity
The Central Bank of Solomon Islands issues Prudential Guideline No.20 to mandate that licensed Financial Institutions establish a comprehensive cybersecurity risk management framework commensurate with their inherent risks. The guideline requires Boards to assume ultimate responsibility for cybersecurity governance while enforcing specific controls over asset management, access control, cryptography, and physical security. Additionally, it imposes strict obligations regarding human resources screening, security awareness training, and the management of third-party and contractor relationships to mitigate information security threats.
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