MAS to tighten cybersecurity, loosen sandbox rules

MAS to tighten cybersecurity, loosen sandbox rules

Singapore THE Monetary Authority of Singapore (MAS) plans to set further requirements in cybersecurity, with its managing director Ravi Menon pointing to cybersecurity risks posed by banks going digital. "The use of technology is not going to take off if we have not successfully addressed the cybersecurity problem, and assured ourselves and Singaporeans that cyber risks are reasonably well mitigated. "MAS has been raising the level of expected standards for cyber risk-management. We want to do some things through regulation, in terms of setting requirements for cyber," Mr Menon told The Business Times in an interview. "Cyber risk is […]