With the rising numbers and scale of cyberattacks, the Monetary Authority of Singapore (MAS) revised its technology risk management (TRM) guidelines on January 18,2021. The TRM guidelines apply to all financial institutions (FI) that MAS regulates, ranging from large ones like banks, insurers and exchanges to small ones like venture capital managers and payments services firms. The TRM guidelines address increased reliance on emerging technologies like cloud computing, application programming interfaces (APIs) and rapid software development and the fast-changing cyber threat landscape. We view the 2021 version as a “best practice framework” for FIs outlining governance practices and internal controls…