Singapore Offers Local Banks $21M to Boost Cybersecurity Capabilities

The Monetary Authority of Singapore is offering $21.88 million in a new grant which seeks to improve the the cybersecurity capabilities and skillsets of local financial institutions.

Funded under Singapore’s Financial Sector Technology and Innovation Scheme, the new Cybersecurity Capabilities Grant will provide funds that can defray up to 50 percent of a bank’s expenses for qualifying functions.

Financial institutions with established cybersecurity centers in Singapore, and those responsible for key global or regional cybersecurity functions and operations in the city-state are eligible for the grant.

Source: ZDNet

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