MAS Technology Risk Management Guidelines

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MAS Technology Risk Management Guidelines

The Monetary Authority of Singapore (“MAS”) issued a revised Technology Risk Management Guidelines (“Guidelines”) on 18 January 2021.

The MAS shared that the revised Guidelines focus on addressing technology and cyber risks by financial institutions (FIs) with the growing use of cloud technologies, application programming interfaces, and rapid software development. It reinforces the importance of incorporating security controls as part of FIs technology development and delivery lifecycle and the deployment of emerging technologies.

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