Information Technology plays an important role in the daily operations of the Bank. Banks are increasingly reliant on Internet technology to provide customers with convenient services, however, as cyberattacks against banks increases every year, cyber security risks which banks face are getting higher and higher.

The Monetary Authority of Singapore (MAS) attaches great importance to cyber security. It requires banks to strengthen information technology risk management, improve personnel skills through professional training, and enhance cyber security awareness in employees.

In this respect, Singapore Branch engaged a group of network specialists from PricewaterhouseCoopers (PwC) to conduct a Technology Risk and Cyber Security Training for all staff. The main scope of training comprises knowledge of cyber security and the requirements and guidelines of MAS technology risk management. Through real case studies, specialists explained cyber security risks and hazards, and listed attack types and methods of prevention.

With this training, the bank employees gained a deeper understanding of cyber security, and laid a solid foundation for the Bank to further strengthen information technology risk management.