Feb 26 2016 | by OrionW
The Singapore Ministry of Communications and Information (MCI) announced that it will introduce a cyber security bill to grant greater powers to the Cyber Security Agency established in April 2015. The new bill is part of the Cyber Security Masterplan 2018 which seeks to develop a cyber security strategy focused on safeguarding 10 critical sectors — banking and finance, emergency services, energy, government, health, infocomm, media, security, transportation and water.
In addition to the new law, the MCI will develop a cyber security ecosystem in Singapore by enhancing the security of critical infocomm infrastructure, promoting the use of suitable infocomm security measures among businesses and developing cyber security talent. To meet these goals, the cyber security expenditure will also be increased to at least 8% of the Singapore Government’s IT budget.
The MCI also announced its plans to strengthen international cooperation to overcome cyber threats. In this regard, the Cyber Security Agency has already signed three MOUs — with France, the United Kingdom and India — in 2015 to bolster collaboration and increase cyber security capabilities.