ISO 28000
International standard for supply chain security management systems
MAS TRM
Singapore guidelines for technology risk management in finance.
Quick Verdict
ISO 28000 provides voluntary supply chain security certification globally, while MAS TRM enforces technology risk management for Singapore FIs. Companies adopt ISO 28000 for broad assurance and market access; MAS TRM for regulatory compliance and cyber resilience.
ISO 28000
ISO 28000:2022 Security management systems — Requirements
Key Features
- Risk assessment and treatment aligned with ISO 31000
- PDCA cycle for continual security improvement
- Explicit controls for supply chain interdependencies
- Top management leadership and commitment required
- Integrates with ISO 9001, 22301, 27001 standards
MAS TRM
Technology Risk Management Guidelines (January 2021)
Key Features
- Board and senior management accountability
- Proportional risk-based implementation
- Third-party service risk management
- Cyber resilience via defence-in-depth
- Annual penetration testing for internet systems
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
ISO 28000 Details
What It Is
ISO 28000:2022 is an international certification standard specifying requirements for a security management system (SMS) focused on supply chain security. It uses a risk-based PDCA (Plan-Do-Check-Act) approach to manage threats like theft, sabotage, and disruptions.
Key Components
- Clauses 4-10 cover context, leadership, planning, support, operation, evaluation, improvement.
- Emphasizes risk assessment (ISO 31000-aligned), operational controls, security plans.
- Built on harmonized ISO structure for integration.
- Optional third-party certification via ISO 28003.
Why Organizations Use It
- Reduces supply chain risks and incidents.
- Meets contractual, regulatory, insurance needs.
- Enhances resilience, market access, partner trust.
- Provides governance for multi-tier suppliers.
Implementation Overview
- Phased: gap analysis, risk assessment, controls, audits.
- Scalable for all sizes/industries; 6-36 months typical.
- Involves training, documentation, internal audits, management reviews.
MAS TRM Details
What It Is
MAS Technology Risk Management (TRM) Guidelines (revised January 2021) are supervisory guidance issued by the Monetary Authority of Singapore for financial institutions. They provide a principles-and-outcomes-based framework focused on governance, cybersecurity, resilience, and third-party risk to ensure confidentiality, integrity, and availability (CIA) of systems and data. Implementation is proportional to risk profile and complexity.
Key Components
- 15 sections covering governance, risk frameworks, secure development, IT operations, resilience, access controls, cryptography, cyber defence, testing, and audit.
- Synthesised into 12 core principles like board accountability, asset classification, and defence-in-depth.
- No fixed controls; emphasises policies, risk registers, metrics, and continuous improvement.
- Compliance via supervisory review, not certification.
Why Organizations Use It
- Meets MAS supervisory expectations to avoid fines/enforcement.
- Enhances cyber resilience, operational stability, and customer trust.
- Supports digital transformation while managing third-party exposures.
- Builds competitive edge through robust risk management.
Implementation Overview
- Phased: governance setup, asset inventory, control design, testing, monitoring.
- Applies to all MAS-supervised FIs; scalable by size/risk.
- Requires board-approved strategies, training, audits; 12-24 months typical.
Key Differences
| Aspect | ISO 28000 | MAS TRM |
|---|---|---|
| Scope | Supply chain security management systems | Technology and cyber risks in financial services |
| Industry | All sectors, global, any organization size | Singapore financial institutions only |
| Nature | Voluntary international certification standard | Supervisory guidelines with enforcement |
| Testing | Internal audits, management reviews, certification audits | Annual pen tests for internet systems, DR tests |
| Penalties | Loss of certification, no legal penalties | Fines, license revocation, executive prohibitions |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about ISO 28000 and MAS TRM
ISO 28000 FAQ
MAS TRM FAQ
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