SAMA CSF
Saudi framework for financial sector cybersecurity resilience
MAS TRM
Singapore guideline for technology risk management in finance
Quick Verdict
SAMA CSF mandates maturity-based cybersecurity for Saudi finance firms, while MAS TRM provides proportionate tech risk guidelines for Singapore FIs. Saudi banks ensure resilience via self-assessments; Singapore firms build governance and testing for supervision.
SAMA CSF
Saudi Arabian Monetary Authority Cyber Security Framework
Key Features
- Six-level maturity model targeting minimum Level 3
- Four core domains with detailed subdomains
- Mandatory for SAMA-regulated financial institutions
- Principle-based aligned with NIST and ISO 27001
- Board oversight and independent CISO requirements
MAS TRM
MAS Technology Risk Management Guidelines
Key Features
- Board and senior management accountability
- Proportional risk-based implementation
- Third-party risk management integration
- Annual penetration testing for internet systems
- Comprehensive TRM framework lifecycle
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
SAMA CSF Details
What It Is
SAMA Cyber Security Framework (CSF) Version 1.0 is a mandatory regulatory framework issued by the Saudi Arabian Monetary Authority in May 2017. It provides a principle-based, risk-oriented blueprint for cybersecurity in SAMA-regulated financial institutions, focusing on governance, controls, and maturity to protect information assets' confidentiality, integrity, and availability.
Key Components
- Four domains: Leadership & Governance, Risk Management & Compliance, Operations & Technology, Third-Party Security.
- Numerous subdomains with principles, objectives, and control considerations.
- Six-level maturity model (0-5, minimum Level 3: structured policies, standards, procedures, KPIs).
- Self-assessment and SAMA review model, aligned with NIST, ISO 27001.
Why Organizations Use It
- Mandatory compliance avoids penalties, audits, fines.
- Enhances resilience, reduces incident risks, improves efficiency.
- Builds trust, enables partnerships, competitive edge in Saudi finance.
- Integrates with enterprise risk for strategic advantages.
Implementation Overview
- Phased: initiation, gap analysis, design, deployment, operations, improvement.
- Applies to banks, insurers, finance firms in Saudi Arabia.
- Requires board sponsorship, CISO, tools like SIEM/IAM; periodic self-assessments, no external certification.
MAS TRM Details
What It Is
MAS Technology Risk Management (TRM) Guidelines (revised January 2021) is supervisory guidance from Singapore's Monetary Authority of Singapore (MAS) for financial institutions. It provides a principles-based framework for governing technology and cyber risks, emphasizing proportional implementation based on risk profile, complexity, and criticality to ensure confidentiality, integrity, and availability (CIA) of systems and data.
Key Components
- 15 sections covering governance, risk frameworks, secure development, IT service management, resilience, access controls, cryptography, cyber operations, assessments, and audit.
- Synthesised 12 core principles like board accountability, asset inventories, third-party oversight, and layered cyber defenses.
- No fixed controls; relies on risk-based outcomes with independent assurance.
Why Organizations Use It
- Meets MAS supervisory expectations to avoid fines, enforcement.
- Enhances resilience, reduces cyber incidents, builds customer trust.
- Supports digital transformation securely; competitive edge in Singapore finance.
Implementation Overview
- **Risk-based roadmapasset inventory, governance setup, control design, testing.
- Applies to all MAS-supervised FIs; scalable by size/complexity.
- No formal certification; demonstrated via audits, board reporting.
Key Differences
| Aspect | SAMA CSF | MAS TRM |
|---|---|---|
| Scope | 4 domains: governance, risk mgmt, operations, third-party | 15 sections: governance to cyber assessment, online services |
| Industry | Saudi financial institutions (banks, insurance, etc.) | Singapore financial institutions (banks, insurers, fintechs) |
| Nature | Mandatory principle-based framework with maturity model | Supervisory guidelines, proportionate implementation |
| Testing | Self-assessments, pen tests, maturity level evidence | Annual PT for internet systems, VA, red teaming, DR tests |
| Penalties | Regulatory actions, remediation, operational restrictions | Fines, license conditions, supervisory enforcement |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about SAMA CSF and MAS TRM
SAMA CSF FAQ
MAS TRM FAQ
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