Singapore tightens cyber defence guidelines for financial services sector
Revised guidelines on technology risk management include instructions for financial institutions to exercise "strong oversight" of arrangements with third-party service providers to ensure data confidentiality and details of the responsibility of senior management.
January 18, 2021 -- 08:54 GMT (00:54 PST)
| Topic: Security
Singapore has revised its current set of guidelines on technology risk management for financial institutions to include, amongst others, "strong oversight" of their partnerships with third-party service providers to ensure data confidentiality. The updated list also comprises updated guidance on security controls and stress tests as well as the appointment of third-party vendors and senior IT executives.