Singapore’s regulator establishes int’l cyber security advisory panel

The Monetary Authority of Singapore has announced the creation of a new Cyber Security Advisory Panel that it says will include “cyber security thought leaders from around the world”.

The so-called CSAP (Cyber Security Advisory Panel) will, the MAS says, advise it “on strategies to enhance the cyber resilience of Singapore’s financial sector”.

The authority said the panel will do this by providing it with “global perspectives” on evolving technologies and cyber threats, and their implications for financial services, along with insight into the latest in cyber security strategies.

The inaugural CSAP panel consists of nine men and two women, whose names are below, and includes representatives from JPMorgan Chase & Co, Standard Chartered Bank, the London Stock Exchange, Accenture Security, IronNet Cybersecurity Inc, F-Secure, FireEye Inc, IBM Resilient and Cyber Ark.

David Koh, chief executive of the Cyber Security Agency of Singapore is also part of the panel.

Each of the panel members is expected to serve a two-year term, the MAS said.

The inaugural CSAP  meeting will be held next month, according to the MAS, which didn’t give a specific date, time or place.

The creation of a cyber security advisory panel comes as businesses around the world are agonising about what they should be doing to protect them and their client information against cyber-crime. Cyberinsurance is said to have emerged as the fastest-growing type of insurance coverage among US companies, even as experts warn that there is still too much uncertainty about the costs of cyber attacks for insurers or their clients to be sure what kind of potential losses they might be talking about.

Earlier this year, a so-called ransomware “worm” known as WannaCry hit organisations in some 150 countries around the world, including the UK’s National Health Service; and more recently, the Equifax credit reporting agency had to admit that hackers had accessed the details of some 143 million US consumers.

The Cyber Security Agency of Singapore members:

  • Valerie Abend, managing director, financial services North America, Security & Global Cyber Regulatory Lead, Accenture Security
  • Keith Alexander, founder and chief executive, IronNet Cybersecurity, Inc
  • Rohan Amin, managing director and global chief information security officer, JPMorgan Chase & Co
  • Adrian Asher, group chief information officer, London Stock Exchange Group
  • Mikko Hypponen, chief research officer, F-Secure
  • David Koh, chief executive, Cyber Security Agency of Singapore
  • Vincent Loy, partner, financial crime and cyber leader, PricewaterhouseCoopers Risk Services Pte Ltd
  • Kevin R. Mandia, chief executive officer and board director, FireEye Inc
  • Cheri McGuire, group chief information security officer, Standard Chartered Bank
  • Udi Mokady, chairman and chief executive officer, CyberArk
  • Bruce Schneier, chief technology officer, IBM Resilient
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