The Monetary Authority of Singapore (MAS) is Singapore’s central bank and financial regulatory authority. The MAS frequently releases guidelines that address emerging technologies and evolving threat landscape.
In June 2013, the MAS created an updated set of guidelines for Internet Banking and Technology Risk Management (IBTRM). This addendum mandates certain requirements for Technology Risk Management (TRM) and contains a set of guidelines (TRM Guidelines) and errata notices (TRM Notices).
The TRM Guidelines are statements of industry best practices to which Financial Institutions are expected to adhere. The guidance is not legally binding but is used by MAS in risk assessment audits of financial institutions.
BeyondTrust solutions for privileged account management and vulnerability management address several TRM Guidelines, including those outlined in the following sections of the latest MAS TRM Guidelines document:
- Section 4: Technology Risk Framework
- Section 6: Acquisition and Development of Information Systems
- Section 9: Operational Infrastructure Security Management
- Section 11: Access Control
Learn more about how BeyondTrust solutions map to the MAS TRM Guidelines in this white paper: Monetary Authority of Singapore: BeyondTrust Solution Overview.