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.