The Ministry of Communications and Information and the Cyber Security Agency of Singapore (CSA) have put forward a proposed Cybersecurity Bill, which would empower the CSA to manage cybersecurity threats while also regulating critical information infrastructure (CII) – including computer systems in the banking and finance sector.
The Ministry of Communications and Information and the CSA said in a joint statement that the proposed bill has four objectives, the first being the provision of a framework to regulate CII owners, who would become responsible for protecting CIIs from attacks.
“As a small nation with one of the highest levels of digital connectivity in the world, a major cyber attack, especially if our CIIs are affected, will have a significant impact on Singapore and our people,” the announcement reads.
Further, the bill aims to grant the CSA with the authority to respond to and act on cybersecurity threats, and to ensure information is shared between CSA officers and relevant parties in order to detect and investigate any cybersecurity incidents.
As the Computer Misuse and Cybersecurity Act – the foundation of Singapore’s existing cybersecurity regulations – was enacted before the CSA was established, the proposed bill shifts specific “sitting powers” to CSA officers to allow for efficient and competent action when combating such crimes. The Singaporean government established the CSA in April 2015.
The bill also proposes a “lighter-touch” licensing framework for the regulation of selected cybersecurity service providers, starting with those that offer penetration testing and managed security operations centre services.
The public consultation period for the bill began yesterday and will end on 3 August.
According to the statement, the Singaporean government believes that it is important to take a cross-industry approach to the design of cybersecurity regulations, given the proliferation of cyber incidents both globally and locally.
China enacted its own cybersecurity laws last month, thereby creating a framework for the regulation of network operators and critical information infrastructure operators.
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