???? Rather than viewing the Monetary Authority of Singapore and Infocomm Media Development Authority of Singapore ‘s position on holding organizations accountable through its Shared Responsibility Framework as a draconian punishment, the key takeaway is that organizations must own their responsibility to stakeholders and take pre-emptive steps to prevent breaches when human error allows access to sensitive information and credentials.
We believe that this is a positive and important step forward in encouraging concerted pre-emptive action to protect their customers from cyberthreats, not just from phishing scams identified in the framework but from all manner of cyberthreats. As a start, it is a welcome development following a year full of rising cyberthreat figures not only in Singapore, but across the world.
Human decision making will always play a huge role in the success of cybercriminals, which is why we advocate for a technology-led, intelligent pre-emptive approach that takes human decisions out of the threat equation.
Learn more about how our solutions can help you take back control, and safeguard your organisation and customers against cybercriminals here ???? www.x-phy.com
If you’d like to know more, reach out to us for a one-on-one consultation to determine the best solution for your organisation.
???? Official release from MAS and IMDA here: https://www.mas.gov.sg/news/media-releases/2023/mas-and-imda-consult-on-shared-responsibility-framework-for-phishing-scams
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