Regulatory Alerts2024-05-09
Added
MAS Notice FSM-N12 Cyber Hygiene
The Monetary Authority of Singapore issued Notice FSM-N12 to establish mandatory cyber hygiene requirements for merchant banks in Singapore. The regulation mandates specific security measures including securing administrative accounts, applying security patching, and strengthening user authentication. These requirements became effective on 10 May 2024 pursuant to the Financial Services and Markets Act 2022.
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