Cybersecurity in finance key to Smart Nation drive, says MAS

[CityFarmer]

It will increase the regulation cost of financial institutions, including Philip Securities. The company is the only independent, without backing of larger company. Will the company continue to survive, with the increase of regulatory cost. The same happened for private banking service before, and market consolidation, is the only way out...

Cybersecurity in finance key to Smart Nation drive, says MAS

SINGAPORE — The financial sector is well-placed to play a leading role in Singapore’s Smart Nation drive, but the first priority lies in continually fortifying the industry’s cybersecurity, Monetary Authority of Singapore’s (MAS) managing director Ravi Menon said today (June 29).

“As more financial services are delivered over the Internet, the frequency, scale and complexity of cyberattacks on financial institutions have increased globally. Hackers and cyber criminals are constantly probing IT systems for weaknesses to exploit,” he said in his keynote address at the Global Technology Law Conference 2015.
...
http://www.todayonline.com/business/fina...e-mas-head

[sgd]

It will increase the regulation cost of financial institutions, including Philip Securities. The company is the only independent, without backing of larger company. Will the company continue to survive, with the increase of regulatory cost. The same happened for private banking service before, and market consolidation, is the only way out...

Cybersecurity in finance key to Smart Nation drive, says MAS

SINGAPORE — The financial sector is well-placed to play a leading role in Singapore’s Smart Nation drive, but the first priority lies in continually fortifying the industry’s cybersecurity, Monetary Authority of Singapore’s (MAS) managing director Ravi Menon said today (June 29).

“As more financial services are delivered over the Internet, the frequency, scale and complexity of cyberattacks on financial institutions have increased globally. Hackers and cyber criminals are constantly probing IT systems for weaknesses to exploit,” he said in his keynote address at the Global Technology Law Conference 2015.
...
http://www.todayonline.com/business/fina...e-mas-head

We will also become a big figure-8 target for anonymous hacker groups to try to crack this image, I know this is publicity to reassure business community but I wish sometimes we should just quietly do it without attracting too much fanfare.

[pianist]

Why the emphasis on phillip securitise