MAS adds cloud computing to guidelines on outsourcing risk management
Cloud services officially acknowledged as outsourcing in latest guidelines, as more financial institutions adopt the practice
The Monetary Authority of Singapore (MAS) has today (July 27) published updated guidelines on outsourcing risk management, including a new section on cloud computing.
"The revised guidelines build on the existing ones to better capture evolving threats, such as offshoring business models and heightened cyber risks," said Ong Chong Tee, deputy managing director at MAS.
In the past, the MAS had "concerns" that cloud services were "not sufficiently secure" to safeguard the sensitive information
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