The Monetary Authority of Singapore (MAS) is Singapore’s central bank and financial regulatory authority. The MAS frequently releases guidelines that address emerging technologies and evolving threat landscape.
In June 2013, the MAS created an updated set of guidelines for Internet Banking and Technology Risk Management (IBTRM). This addendum mandates certain requirements for Technology Risk Management (TRM) and contains a set of guidelines (TRM Guidelines) and errata notices (TRM Notices).
The TRM Guidelines are statements of industry best practices to which Financial Institutions are expected to adhere. The guidance is not legally binding but is used by MAS in risk assessment audits of financial institutions.
BeyondTrust solutions for privileged account management and vulnerability management address several TRM Guidelines, including those outlined in the following sections of the latest MAS TRM Guidelines document:
- Section 4: Technology Risk Framework
- Section 6: Acquisition and Development of Information Systems
- Section 9: Operational Infrastructure Security Management
- Section 11: Access Control
Learn more about how BeyondTrust solutions map to the MAS TRM Guidelines in this white paper: Monetary Authority of Singapore: BeyondTrust Solution Overview.
Morey J. Haber, Chief Security Officer, BeyondTrust
Morey J. Haber is the Chief Security Officer at BeyondTrust. He has more than 25 years of IT industry experience and has authored three books: Privileged Attack Vectors, Asset Attack Vectors, and Identity Attack Vectors. He is a founding member of the industry group Transparency in Cyber, and in 2020 was elected to the Identity Defined Security Alliance (IDSA) Executive Advisory Board. Morey currently oversees BeyondTrust security and governance for corporate and cloud based solutions and regularly consults for global periodicals and media. He originally joined BeyondTrust in 2012 as a part of the eEye Digital Security acquisition where he served as a Product Owner and Solutions Engineer since 2004. Prior to eEye, he was Beta Development Manager for Computer Associates, Inc. He began his career as Reliability and Maintainability Engineer for a government contractor building flight and training simulators. He earned a Bachelor of Science degree in Electrical Engineering from the State University of New York at Stony Brook.