The Financial Authority of Singapore (MAS), the Banque de France (BdF) and the Autorité de contrôle prudentiel et de résolution (ACPR) had carried out a joint disaster administration train targeted on cybersecurity threats.
Backed by the Banque de France, ACPR is the executive authority that supervises the banking and insurance coverage sectors and ensures monetary stability.
The train follows from the Memorandum of Understanding on Cooperation in Cybersecurity signed between MAS, BdF and ACPR in November 2019.
The joint train examined the effectiveness of cyber disaster coordination and response by the three monetary authorities when managing situations comparable to ransomware, zero-day vulnerabilities and IT provide chain assaults.
Given the worldwide nature of cyber threats and the interconnectedness of our monetary programs, cross-border cooperation has turn into more and more necessary to safeguard monetary stability and the resilience of important monetary providers.
Vincent Loy
Vincent Loy, Assistant Managing Director (Expertise), MAS stated,
“The joint train demonstrates the dedication of MAS, BdF and ACPR to sharpen our collective response to main cyber assaults focused at monetary establishments working on a cross border foundation, via efficient data sharing protocols.
Such shut cooperation improves our capacity to take care of operational resilience and stability within the world monetary system.”
Nathalie Aufauvre
Nathalie Aufauvre, Director Common for Operations and Monetary Stability at BdF stated,
“Cyber-risk being cross-border by nature, the conduct of worldwide disaster workout routines is important to extend our degree of readiness and collective cyber-resilience, particularly on this interval of heightened cyber-threats.
The train additionally illustrates the range of our joint MAS-BdF cooperation after the opening of BdF’s workplace for Asia-Pacific in Singapore in 2020.”
