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Technology Risk Management Guidelines and Regulations for the Safety & Soundness of the Financial Industry in Singapore

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If you have a question about this talk, please contact Wei Ming Khoo .

Managing technology risk is neither pure science nor pure art. It is a combination that requires a large dose of pragmatism, conservatism and practicality. The fragility and porosity of IT control and security infrastructures have resulted in frequent data breach incidents and system failures in the banking industry . Security and control issues such as cloud computing data commingling platform, multi-tenancy promiscuity, multiple client sharing configurations, virtual machine contamination, failure-point obscurity and data sovereignty have posed serious challenges to technology risk management and the security of banking systems.

To assist the financial industry in protecting their systems and safeguarding their digital assets, MAS has been promulgating a number of technology risk management guidelines and regulations based on the principles of data security, system integrity and operational resiliency.

This talk is part of the Computer Laboratory Security Group meeting presentations series.

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