New Rules for the Financial Sector in Singapore – MAS Third Party Risk Management Directive

The ripple effect from Russia-linked SolarWinds hack has reached the banking shores of Singapore.

The Monetary Authority of Singapore (MAS) is issuing a third-party risk management directive that requires all financial institutions to assess and manage their exposure to technology risks with third-party suppliers, before entering into a contractual agreement.

What does this actually mean for your business? We had a recent podcast with our GRC consultant, where we took a look at how various organisations are managing third-party risks:

At Privasec, our vendor risk assessment services can help to assess the security reliability of your third-party supplier, and ensure that your business meets all the necessary compliance standards.

Check out our fact sheet, or read more about the new directive by MAS here.

Scroll to Top