Regulatory Alerts2022-03-17
Added · Updated
Exercising Caution in Times of Heightened Cyber Threat
The Malta Financial Services Authority reminds Authorised Persons to maintain situational awareness of ICT and cybersecurity threats, ensuring Boards of Directors adequately discuss and manage these risks. Authorised Persons must regularly assess exposures, including third-party risks, maintain functional business continuity and disaster recovery plans, and ensure backup processes align with secure best practices. The Authority expects continuous staff training on trends such as social engineering and timely consumer information regarding known threats like cybersquatting. Additionally, Authorised Persons are required to report Major ICT Related Incidents to the Authority in a timely manner.
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