Monetary Authority of Singapore Technology Risk Management Guidelines
Chapter 13: Cyber Security Assessment – Monetary Authority of Singapore Technology Risk Management Guidelines

Monetary Authority of Singapore Technology Risk Management Guidelines 13.2: 13.2 Penetration Testing

The FI should carry out penetration testing for an in-depth evaluation of its defences, combining blackbox and greybox testing for online financial services, and may add a bug bounty programme. Testing should be on the production environment with proper safeguards; frequency should reflect criticality and exposure, and internet-facing systems are expected to be tested at least annually and whenever they undergo major changes or updates.

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