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.
Notices
Published Date: 09 May 2024
Requirements on cyber hygiene for merchant banks in Singapore.
Technology Risk
Issued pursuant to: Financial Services and Markets Act 2022
Applies to:
Merchant Bank (Branch)
,
Merchant Bank (Locally Incorporated)
View Notice
Notice FSM-N12 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-N12 (73 KB) is effective from 10 May 2024.
Responses to Feedback Received to Draft Notice on Cyber Hygiene (1.19 MB)