In the efforts of ramping up the cybersecurity of Singapore's booming financial industry, the Monetary Authority of Singapore, the city-state's central bank and regulator, tapped several thought leaders and experts from across the world to form its own Cyber Security Advisory Panel (CSAP).
The main duty of CSAP will be to advise the central bank on strategies to further enhance the resilience of Singapore's financial sector. The advisory panel will be able to give a hand particularly in providing MAS with global perspectives on technologies and cyber threats.
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MAS Managing Director Ravi Menon said CSAP would be able to tackle the implications of these cyber threats on the financial services of the city-state. The panel will also be capable of providing insights on best practices in cybersecurity strategies.
"As financial institutions adopt new technologies and financial services are increasingly distributed using digital platforms, strong cybersecurity is critical to sustaining trust and confidence. We look forward to tapping into the CSAP's expertise to help ensure that Singapore's financial sector remains dynamic and secure in an increasingly digital world," Menon said.
Below is the composition of the advisory panel:
- Valerie Abend - Managing Director, Financial Services North America Security & Global Cyber Regulatory Lead, Accenture Security
- Keith Alexander - Founder and Chief Executive Officer, IronNet Cybersecurity Inc.
- Rohan Amin - Managing Director, Global Chief Information Security Officer, JPMorgan Chase & Co
- Adrian Asher - Group Chief Information Security Officer, London Stock Exchange Group
- Mikko Hypponen - Chief Research Officer, F-Secure
- David Koh - Chief Executive, Cyber Security Agency of Singapore
- Vincent Loy - Partner, Financial Crime & Cyber Leader, PricewaterhouseCoopers Risk Services Pte. Ltd.
- Kevin R. Mandia - Chief Executive Officer & Board Director, FireEye Inc
- Cheri McGuire - Group Chief Information Security Officer, Standard Chartered Bank
- Udi Mokady - Chairman & Chief Executive Officer, CyberArk
- Bruce Schneier - Chief Technology Officer, IBM Resilient
Cybersecurity is one of the priority areas of the Singapore government. To recall, Minister of Communications and Information Yaacob Ibrahim announced that the Cybersecurity Bill will be introduced in Parliament in 2018.
In a speech, Yacob said the government has already been in talks with various stakeholders, potential critical infrastructure (CII) owners and the wider industry and public regarding the said bill.
The minister also stated that Singapore will be contributing to the ASEAN Cyber Capacity Building program, donating $1.5 million in the next three years.