According to MAS, the guidelines reinforce the importance of incorporating security controls as part of FI’s technology development and delivery lifecycle, as well as the deployment of emerging technologies.
The Monetary Authority of Singapore (MAS) has issued its revised guidelines on technology risk management to “keep pace with emerging technologies and shifts in the cyber threat landscape”, says the central bank.
The revised guidelines focus on addressing technology and cyber risks amid the growing use of cloud technologies, application programming interfaces and rapid software development by financial institutions (FIs).
