MAS issues ‘cyber hygiene’ rules; eases sandbox barriers

The Monetary Authority of Singapore has issued baseline requirements on ‘cyber hygiene’, as well as easing the approval process for its fintech regulatory sandbox.

The MAS identified six elements that all financial firms must follow to reduce the risk of cyber threats: ensure robust security for IT systems; ensure system flaws are fixed quickly; deploy security devices to restrict unauthorised network traffic; work to prevent malware infections; secure system accounts with special privileges