What capabilities will be built under the new cybersecurity cooperation?

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Cybersecurity Cooperation Will Enhance Joint Training and Operational Preparedness

The new cybersecurity cooperation between the Monetary Authority of Singapore (MAS) and the Bank of Thailand will focus on building capabilities through joint training, study visits, research exchanges, and cross-border exercises. These initiatives are designed to enhance competency-building and operational preparedness in combating increasingly sophisticated cyber threats affecting the region's financial systems. The agreement aims to strengthen the collective ability to respond to incidents and manage crises.
Joint Training and Research Exchanges Planned

Under the memorandum of understanding, both central banks will engage in joint training sessions, study visits, and research exchanges. These activities are intended to foster a deeper understanding of evolving cybersecurity challenges and to develop shared best practices. The focus will be on practical skill development and knowledge transfer between the two regulatory bodies.
Enhanced Information Sharing on Threats

The agreement mandates the exchange of regulatory and incident updates, as well as threat intelligence relevant to the financial sector. This continuous flow of information will allow both MAS and the Bank of Thailand to stay informed about emerging risks and to proactively address potential vulnerabilities. Sharing intelligence on digital fraud and cybersecurity incidents will be a key component of this enhanced cooperation.
Cross-Border Exercises for Crisis Management

A significant aspect of the enhanced capabilities will involve carrying out cross-border cybersecurity and crisis management exercises. These simulations will test the coordinated response mechanisms between Singapore and Thailand in the event of a significant cyber incident. The exercises are crucial for ensuring operational preparedness and effective collaboration during high-stakes situations.

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What capabilities will be built under the new cybersecurity cooperation?

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