Singapore: MAS Issues New Rules to Strengthen Cyber Resilience of Financial Industry

On 6 August 2019, the Monetary Authority of Singapore ("MAS") issued a set of legally binding requirements (collectively known as "Cyber Hygiene Notices") that financial institutions must take to mitigate the growing risk of cyber threats.

MAS has also issued a set of Frequently Asked Questions accompanying the Cyber Hygiene Notices, which sets out common industry practices for each cyber security measures under the Cyber Hygiene Notices.