Singapore – MAS consults on measures to strengthen cyber resilience of financial institutions

The Monetary Authority of Singapore (“MAS”) issued on 6 September a consultation proposing the issuance of a Notice on Cyber Hygiene (the “Notice”) prescribing essential cyber security measures to be implemented by a wide range of financial institutions (“FIs”) in Singapore with a view to enhancing cyber resilience and guarding against cyberattacks. If implemented, the measures, which currently form part of the existing MAS Technology Risk Management Guidelines, will be elevated into legally bi