Regulatory Alerts2024-05-09
Added
MAS Notice FSM-N06 Cyber Hygiene
The Monetary Authority of Singapore issued Notice FSM-N06 to establish mandatory cyber hygiene requirements for all licensed banks in Singapore. The regulation mandates specific security controls including securing administrative accounts, applying security patching, establishing baseline standards, deploying network security devices, implementing anti-malware measures, and strengthening user authentication. This notice became effective on 10 May 2024 pursuant to the Financial Services and Markets Act 2022.
Notices
Published Date: 09 May 2024
Requirements on cyber hygiene for banks in Singapore.
Technology Risk
Issued pursuant to: Financial Services and Markets Act 2022
Applies to:
Full Bank (Branch)
,
Full Bank (Locally Incorporated)
,
Wholesale Bank (Locally Incorporated)
,
Wholesale Bank (Branch)
View Notice
Notice FSM-N06 Cyber Hygiene
(73 KB)
This Notice sets out cyber security requirements on securing administrative accounts, applying security patching, establishing baseline security standards, deploying network security devices, implementing anti-malware measures and strengthening user authentication.
09 May 2024
MAS Notice FSM-N06 (73 KB) is effective from 10 May 2024.
Responses to Feedback Received to Draft Notice on Cyber Hygiene (1.19 MB)