A new centre launched in Singapore is aimed at combating cybercrime and increasing cyber information sharing among 49 financial institutions in nine countries.
The Financial Services Information Sharing and Analysis Center (FS-ISAC), Asia Pacific regional analysis centre will provide round the clock local and global coverage with threat information sharing, actionable intelligence, and will also offer tools and resources to respond to incidents.
FS-ISAC is an intelligence gathering and sharing initiative for the financial sector, with over 7,000 members worldwide. The nine countries in the Asia-Pacific (APAC), region are Australia, India, Japan, Malaysia, New Zealand, Singapore, South Korea, Taiwan and Thailand.
Complex Sophisticated Attacks
The new centre’s operations and the regional intelligence reports it produces will help APAC countries to better deal with cross-border cybercrimes. Member institutions will benefit from regional meetings, regionally-focused monthly threat calls, webinars on hot topics, cybersecurity training and summits, MAS and FS-ISAC said in a joint press release issued during the Singapore Fintech Festival.
«Against the backdrop of increasingly complex and sophisticated cyber-attacks, it is even more important for countries to stay engaged, foster stronger relationships and exchange information and expertise freely,» said Sopnendu Mohanty MAS chief fintech officer.
To meet the growing need for cybersecurity talent, the FS-ISAC has also signed a memorandum of understanding with Temasek Polytechnic to provide internship opportunities to the latter's students. They will be exposed to real world cyber threats to build up their skills in cybersecurity, according to MAS and FS-ISAC.
