The misuse of privileges remains one of the most common causes of data breaches and it is involved in 74% of data breaches worldwide. Singaporean authorities understand the value of well-thought cybersecurity and call for urgent actions to enhance the IT security status in the country. The Monetary Authority of Singapore (MAS) has already introduced a set of regulations in terms of privileged account management for financial institutions.
One of the MAS statements is «Users granted privileged system access have the ability to inflict severe damage on the stability and security of the FI’s IT environment. Access to privileged accounts should only be granted on a need-to-use basis; activities of these accounts should be logged and reviewed as part of the FI’s ongoing monitoring». Why so?
In this interview the Head of customer and partner relationship of Indeed Identity, Nadia Navadova, and the Product sales manager of Pacific Tech, Ryan Looi, elaborate on the topic of MAS compliance and answer the question why PAM is a vital part of it. Take a look at the podcast and learn how MAS compliance affects the Singaporean financial sector and what is the roadmap to bring your company to compliance fast and easy.
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