Regulatory Alerts2024-05-09
Added · Updated
MAS Notice FSM-N14 Cyber Hygiene
MAS Notice FSM-N14 requires payment services licensees, operators, and settlement institutions of designated payment systems to implement specific cyber hygiene practices. Affected entities must secure administrative accounts, apply security patches commensurate with risk, maintain written security standards for all systems, restrict unauthorized network traffic, and deploy malware protection where available. Additionally, multi-factor authentication is mandated for administrative accounts on critical systems and for all accounts accessing customer information via the internet. The notice takes effect on 10 May 2024.
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