Regulatory Alerts2024-05-09
Added · Updated
MAS Notice FSM-N20 on Cyber Hygiene for Registered Insurance Brokers
This Notice requires registered insurance brokers to secure administrative accounts, apply security patches commensurate with risk, and maintain written security standards for all systems. It mandates multi-factor authentication for administrative accounts on critical systems and for any internet-accessed accounts handling customer information. Additionally, entities must implement network perimeter controls and malware protection measures where available. The requirements take effect on 10 May 2024.
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