What kind of competency-building will MAS and Bank of Thailand conduct?

Question

Accepted Answer

MAS and Bank of Thailand to Enhance Cybersecurity Through Joint Initiatives

The Monetary Authority of Singapore (MAS) and the Bank of Thailand have established a memorandum of understanding to bolster their collaboration in cybersecurity and the fight against digital fraud. This agreement outlines a cooperative framework encompassing information sharing on cybersecurity and digital fraud, competency-building, and operational preparedness, aiming to address the escalating sophistication of cyber threats within the region's integrated financial networks.
Information Sharing on Cyber Threats

Under the agreement, both central banks will engage in the exchange of crucial updates regarding regulatory matters, incidents, and threat intelligence that impact the financial sector. This proactive sharing of information is designed to enhance situational awareness and facilitate a coordinated response to emerging cyber risks.
Joint Training and Research Exchanges

A significant component of the cooperation involves conducting joint training sessions, study visits, and research exchanges between MAS and the Bank of Thailand. These initiatives are intended to build capacity and share best practices in cybersecurity, thereby strengthening the resilience of both institutions against digital threats.
Cross-Border Operational Preparedness

The memorandum also paves the way for carrying out cross-border cybersecurity and crisis management exercises. These exercises are vital for testing and improving operational preparedness, ensuring that both MAS and the Bank of Thailand can effectively manage and mitigate the impact of cyber incidents that transcend national borders.

Reading history

Hide →

This history is cleared when the page is closed.

What kind of competency-building will MAS and Bank of Thailand conduct?

Loading

Was this article helpful?

Helpful

Not helpful

Report an issue

1

0

0

Share with friends