MAS updates IBTRM guidelines

The Monetary Authority of Singapore (MAS) has updated the Internet Banking and Technology Risk Management (IBTRM) guidelines following consultation with the industry. The guidelines aim to assist banks in:

* Establishing a sound and robust technology risk management framework;
* Strengthening system security, reliability, availability and recoverability; and
* Deploying strong cryptography and authentication mechanisms to protect customer data and transactions

The revised IBTRM guidelines provide expanded guidance for combating cyber threats and attacks, including emerging cyber exploits such as middleman attacks. The document also recommends enhanced technology risk management requirements for strengthening system, network and infrastructure security, and articulates stronger procedures for system development and security testing.

Read the new IBTRM guidelines (PDF).

•Date: 17th June 2008• Region: Singapore •Type: Article •Topic: Financial sector BC
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