Regulatory Alerts2024-05-09
Added · Updated
MAS Notice FSM-N10 Cyber Hygiene
This Notice requires all finance companies to secure administrative accounts, apply security patches commensurate with risk, and maintain written security standards for every system. It mandates the implementation of network perimeter controls, malware protection where available, and multi-factor authentication for administrative accounts on critical systems and any internet-accessed customer information systems. The requirements do not apply if a finance company cannot exercise direct or indirect control over a system, provided it is not reasonable to procure an alternative provider. This Notice takes effect on 10 May 2024.
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