PCI DSS
Global standard securing payment cardholder data
MAS TRM
Singapore guidelines for financial technology risk management.
Quick Verdict
PCI DSS mandates card data security for global merchants via audits and scans, while MAS TRM provides technology risk guidelines for Singapore FIs emphasizing governance and resilience. Organizations adopt PCI for payment compliance; MAS TRM for regulatory supervision.
PCI DSS
Payment Card Industry Data Security Standard
Key Features
- 12 requirements across 6 objectives protecting CHD
- Contractually enforced by payment brands and banks
- Over 300 granular sub-requirements with testing procedures
- Quarterly ASV scans and annual penetration tests required
- Network segmentation minimizes compliance scope effectively
MAS TRM
MAS Technology Risk Management Guidelines (2021)
Key Features
- Board and senior management accountability
- Proportional risk-based implementation
- Third-party service risk management
- Annual pentesting for internet systems
- Defence-in-depth cyber resilience
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
PCI DSS Details
What It Is
PCI DSS (Payment Card Industry Data Security Standard) is a contractual security framework for entities handling credit card data. It protects cardholder data (CHD) and sensitive authentication data (SAD) through a control-based approach with 12 requirements organized into 6 control objectives.
Key Components
- Core areas: secure networks, data protection, vulnerability management, access controls, monitoring/testing, policies.
- 300+ sub-requirements with detailed testing procedures.
- Merchant levels (1-4) and service provider levels dictate SAQ or ROC validation by QSAs/ASVs.
- Built on ongoing Assess-Repair-Report cycle.
Why Organizations Use It
- Mandatory contractual obligation avoiding fines, bans, breach costs ($37/record avg.).
- Reduces fraud risk, ensures payment processing continuity.
- Builds stakeholder trust, competitive edge in payments.
Implementation Overview
- Scope CDE, gap analysis, remediate controls, validate compliance.
- Applies globally to all card-handling orgs/sizes.
- Requires quarterly scans, annual pentests, ongoing maintenance.
MAS TRM Details
What It Is
MAS Technology Risk Management (TRM) Guidelines (January 2021) are supervisory guidelines issued by Singapore's Monetary Authority of Singapore (MAS) for financial institutions. They provide a principles-based framework focused on managing technology and cyber risks to ensure confidentiality, integrity, and availability (CIA) of systems and data. The approach emphasizes proportional implementation based on risk profile, complexity, and service criticality.
Key Components
- Covers 15 sections including governance, risk frameworks, secure development, IT service management, resilience, access controls, cryptography, cyber operations, and audits.
- Synthesizes 12 core principles like board accountability, asset inventories, third-party oversight, and defence-in-depth.
- No fixed controls; relies on outcomes-based compliance with independent assurance.
Why Organizations Use It
- Meets MAS supervisory expectations to avoid fines and enforcement.
- Enhances cyber resilience and operational stability.
- Builds stakeholder trust amid digital transformation.
- Enables risk-based innovation in fintech ecosystems.
Implementation Overview
- **Risk-based rolloutInventory assets, assess risks, deploy controls, test resilience.
- Applies to MAS-supervised financial institutions (banks, insurers, fintechs).
- No formal certification; MAS inspections verify adherence.
Key Differences
| Aspect | PCI DSS | MAS TRM |
|---|---|---|
| Scope | Payment card data security (12 requirements, 300+ controls) | Technology risk across financial services (governance, cyber, resilience) |
| Industry | Global merchants/service providers handling card data | Singapore financial institutions (banks, insurers, fintechs) |
| Nature | Contractual standard enforced by card brands | Supervisory guidelines for MAS-regulated FIs |
| Testing | Quarterly ASV scans, annual QSA ROC/SAQ | Annual PT for internet systems, vulnerability assessments |
| Penalties | Fines, loss of card processing privileges | Supervisory actions, fines, license revocation |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about PCI DSS and MAS TRM
PCI DSS FAQ
MAS TRM FAQ
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