IEC 62443
International standard for IACS cybersecurity frameworks
MAS TRM
Singapore guidelines for financial technology risk management.
Quick Verdict
IEC 62443 provides risk-based IACS cybersecurity for industrial sectors globally, while MAS TRM mandates tech risk governance for Singapore FIs. Organizations adopt IEC for OT certification; MAS for regulatory compliance and resilience.
IEC 62443
IEC 62443: IACS cybersecurity standards series
Key Features
- Risk-based zones and conduits segmentation model
- Security levels SL-T, SL-C, SL-A triad
- Shared responsibility across asset owners, integrators, suppliers
- Seven foundational requirements FR1-FR7 taxonomy
- Modular ISASecure certifications for lifecycle assurance
MAS TRM
MAS Technology Risk Management Guidelines
Key Features
- Board and senior management accountability
- Proportional risk-based implementation
- Comprehensive TRM lifecycle framework
- Third-party risk management oversight
- Annual pen testing for internet systems
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
IEC 62443 Details
What It Is
IEC 62443 is the ISA/IEC series of consensus-based standards for cybersecurity of Industrial Automation and Control Systems (IACS). It provides a comprehensive, risk-based framework spanning governance, risk assessment, system architecture, and component requirements tailored to OT environments with unique constraints like availability and long lifecycles.
Key Components
- Four groupings: General (-1), Policies (-2), System (-3), Components (-4).
- Seven foundational requirements (FR1-7) like authentication, integrity, data flow.
- Zones/conduits model and security levels (SL0-4) with SL-T (target), SL-C (capability), SL-A (achieved).
- ISASecure modular certifications: SDLA (-4-1), CSA/SSA (-4-2/-3-3).
Why Organizations Use It
- Mitigates OT cyber risks impacting safety, production.
- Enables supplier qualification, procurement specs.
- Builds assurance chain; reduces insurance costs.
- Supports regulatory baselines as horizontal standard.
Implementation Overview
Phased: CSMS governance (-2-1), risk assessment/segmentation (-3-2), controls (-3-3/-4-2). Applies to critical infrastructure globally; requires audits, certifications for maturity.
MAS TRM Details
What It Is
MAS Technology Risk Management (TRM) Guidelines (revised January 2021) are supervisory guidelines from the Monetary Authority of Singapore for financial institutions. They establish a principles-based framework emphasizing governance, cyber resilience, and controls to protect confidentiality, integrity, and availability (CIA) of systems and data amid digitalization and cyber threats.
Key Components
- 15 sections spanning governance, risk frameworks, secure SDLC, IT operations, resilience, access controls, cryptography, data security, cyber operations, assessments, and audit
- Synthesised 12 core principles like board accountability, asset classification, security-by-design, and defense-in-depth
- Proportional, risk-based approach without fixed controls
- No certification; based on supervisory review of observance
Why Organizations Use It
- Meets MAS supervisory expectations to avoid fines/enforcement
- Strengthens resilience, third-party oversight, and secure innovation
- Builds trust with regulators, customers, and stakeholders
- Enables risk-informed digital transformation
Implementation Overview
- Phased: governance, asset inventory, risk assessment, controls, testing, monitoring
- Applies to Singapore FIs (banks, insurers, fintechs) proportionally
- Involves board strategy, independent assurance; MAS inspections
Key Differences
| Aspect | IEC 62443 | MAS TRM |
|---|---|---|
| Scope | IACS/OT cybersecurity lifecycle, zones/conduits, SLs | Financial sector tech risk governance, cyber, resilience |
| Industry | Industrial sectors (energy, manufacturing) globally | Singapore financial institutions (banks, insurers) |
| Nature | Consensus standards series, voluntary certification | Supervisory guidelines, enforced via supervision |
| Testing | ISASecure modular certs, SL capability verification | Annual PT for internet systems, VA, cyber exercises |
| Penalties | Loss of certification, market exclusion | Fines, license revocation, executive prohibitions |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about IEC 62443 and MAS TRM
IEC 62443 FAQ
MAS TRM FAQ
You Might also be Interested in These Articles...
How to Implement CIS Controls v8.1 as a ‘Control Backbone’ for NIS2 & DORA (Step-by-Step Implementation Guide)
Deploy CIS Controls v8.1 as a control backbone for NIS2 & DORA compliance. Step-by-step roadmap (IG1→IG2), deliverables, metrics & evidence model for hybrid/clo
DORA Third-Party Risk Management: A Consultant’s Guide to Mapping Critical ICT Service Providers in 2026
Navigate DORA's complex third-party risk pillar. Step-by-step consultant guide to identify critical ICT providers, remediate Article 30 contracts, and build the
Top 5 Reasons HITRUST CSF's MyCSF Platform Crushes Evidence Overload for R2 Assessments in Hybrid Cloud Environments
Explore top 5 advantages of HITRUST MyCSF for 1,400+ R2 controls in hybrid clouds. Slash docs by 30%, dodge under-scoping, achieve continuous compliance for hea
Run Maturity Assessments with GRADUM
Transform your compliance journey with our AI-powered assessment platform
Assess your organization's maturity across multiple standards and regulations including ISO 27001, DORA, NIS2, NIST, GDPR, and hundreds more. Get actionable insights and track your progress with collaborative, AI-powered evaluations.
Check out these other Gradum.io Standards Comparison Pages
ISO 45001 vs ISO 50001
Discover ISO 45001 vs ISO 50001: Compare OH&S leadership & risk controls with energy baselines & EnPIs. Align via HLS for integrated gains. Unlock insights now!
ISO 20000 vs BREEAM
Compare ISO 20000 vs BREEAM: IT service mgmt standard meets green building cert. Key diffs, requirements, benefits & strategies. Boost compliance & sustainability now!
NIS2 vs NERC CIP
Compare NIS2 vs NERC CIP: EU's broad scope & strict reporting vs US grid CIP tiers, patches & perimeters. Key diffs, fines, compliance tips. Secure your ops now!