Regulatory Alerts2024-05-09
Added · Updated
MAS Notice FSM-N26 Cyber Hygiene
This Notice imposes specific cyber hygiene obligations on all licensed trust companies under the Trust Companies Act 2005. It requires these entities to secure administrative accounts, apply security patches commensurate with risk, maintain written security standards for every system, implement network perimeter controls, and deploy malware protection where available. Additionally, licensed trust companies must enforce multi-factor authentication 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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