FS-ISAC and MAS launch regional office in Singapore to step up fight against cybercrime

analysis centre in Singapore is in line with the need to strengthen local intelligence capabilities and cyber resilience
analysis centre in Singapore is in line with the need to strengthen local intelligence capabilities and cyber resiliencePHOTO: BLOOMBERG

SINGAPORE - The Financial Services Information Sharing and Analysis Center (FS-ISAC) has collaborated with the Monetary Authority of Singapore (MAS) to launch a regional centre in Singapore to fight cybercrime.

The setting up of FS-ISAC Asia Pacific regional analysis centre in Singapore is in line with the need to strengthen local intelligence capabilities and cyber resilience at both a regional and global level to stay ahead of cybercrime, said FS-ISAC president and CEO Bill Nelson in a joint statement.

"Strengthening our presence in Asia-Pacific helps build the resilience of the entire global financial services sector," he added."

The centre supports 49 financial institutions across nine Asia-Pacific countries.

The FS-ISAC is a non-profit group established by the financial industry to provide information on cybersecurity threat for the broader industry.

"The centre's operations and the regional intelligence reports it produces will help Asia-Pacific countries to deal better with cross-border cybercrimes," said Sopnendu Mohanty, MAS's chief fintech officer.

The centre provides 24/7 local and global coverage with threat information sharing, actionable intelligence, as well as tools and resources to respond to incidents. Members also benefit from regional meetings, regionally-focused monthly threat calls, webinars on hot topics, cybersecurity training and summits.

To grow talent in the area, FS-ISAC has signed a memorandum of understanding with Temasek Polytechnic to provide internship opportunities for students who will be exposed to real world cyberthreats to build their skills.