21 December, 2017
The Monetary Authority of Singapore (“MAS”) announced on 20 September 2017 that it has established a Cyber Security Advisory Panel (“CSAP”) to advise it on strategies to enhance the cyber resilience of Singapore’s financial sector. CSAP is expected to provide global perspectives on evolving technologies and cyber threats and their implication for financial services, as well as insights on best practices in cyber security strategies.
CSAP members are appointed for a two-year term. It consists of 11 members, all of whom are cyber security thought leaders from all around the world, including, Mr David Koh, chief executive of Singapore’s Cyber Security Agency (“CSA”) and Mr Kevin Mandia, chief executive officer and board director of American cyber security services provider FireEye, which has been picked to provide training on incident response and malware analysis at the newly-established CSA Academy. Other panel members include Mr Adrian Asher, group chief information security officer of the London Stock Exchange, Ms Cheri McGuire, group chief information security officer of Standard Chartered Bank, and Mr Vincent Loy, partner of financial crime and cyber leader at PricewaterhouseCoopers Risk Services.
As noted by the managing director of MAS, strong cyber security is critical to sustaining trust and confidence where financial institutions increasingly adopt new technologies and distribute financial services on digital platforms. CSAP will help ensure that Singapore’s financial sector remains dynamic and secure in an increasingly digital world. The inaugural meeting was held in October.
For further information, please contact:
William Hallatt, Partner, Herbert Smith Freehills
William.Hallatt@hsf.com
