What specific regulatory updates will MAS and Bank of Thailand exchange?

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MAS and Bank of Thailand to Enhance Cybersecurity Cooperation Through Information Exchange

The Monetary Authority of Singapore (MAS) and the Bank of Thailand have established a framework for enhanced cybersecurity cooperation, including the exchange of regulatory and incident updates, and threat intelligence relevant to the financial sector. This initiative aims to strengthen their collective defence against increasingly sophisticated cyber threats and digital fraud impacting the region's financial systems. The agreement formalises cooperation across three key pillars: information sharing on cybersecurity and digital fraud, competency building, and operational preparedness.
Framework for Information Sharing

Under the memorandum of understanding, MAS and the Bank of Thailand will engage in the exchange of regulatory and incident updates. This exchange is intended to provide both central banks with timely information regarding developments and events within their respective financial sectors that pertain to cybersecurity and digital fraud. The goal is to foster a shared understanding of emerging risks and regulatory responses.
Exchange of Threat Intelligence

Beyond regulatory and incident updates, the agreement also encompasses the sharing of threat intelligence affecting the financial sector. This intelligence sharing is crucial for identifying and understanding the evolving tactics, techniques, and procedures employed by malicious actors. By pooling this information, both authorities can better anticipate and counter cyber threats targeting financial institutions.
Joint Initiatives and Preparedness

The cooperation extends to practical measures such as conducting joint training, study visits, and research exchanges. Furthermore, the MAS and the Bank of Thailand will carry out cross-border cybersecurity and crisis management exercises. These exercises are designed to test and improve their combined operational preparedness and response capabilities in the face of cyber incidents.

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What specific regulatory updates will MAS and Bank of Thailand exchange?

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