Singapore banks offered $21M in funds to boost cybersecurity capabilities

Financial institutions in Singapore now have access to a S$30 million (US$21.88 million) grant that they can use to boost their cybersecurity operations and skillsets.

Monetary Authority of Singapore (MAS) unveiled the new Cybersecurity Capabilities Grant that it said aimed to beef up the local financial sector’s cyber resilience and help banks develop local cybersecurity talent.

Funded under the country’s Financial Sector Technology and Innovation Scheme, the grant would facilitate the development of “advanced cybersecurity functions” such as cyber threat surveillance and intelligence gathering, computer forensics, and malware research and analysis, MAS said in a statement Monday.

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Source: ZDNet