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MAS has higher expectations of technology risk governance and security controls at FIs

The Monetary Authority of Singapore (MAS) has revised its Technology Risk Management Guidelines and is urging financial institutions (FIs) to implement a robust risk management framework to ensure IT and cyberresilience. The pandemic has accelerated the digitalisation at FIs. Private banks have improved their operational efficiency and private bankers have been able to stay in touch with clients during lockdowns….

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