Cyber threats and incidents to the financial sector in Jamaica, and globally, pose a serious hazard to financial stability.
This Standard of Sound Practice on the Management of Cyber Risks (“Guidelines”) is intended to establish minimum standards and guidelines on the management of cyber risk for licensees under the Insurance Act, the Pensions Act, and the Securities Act. Each licensee is expected to put an effective framework in place to manage the cyber risk exposures inherent in their operations, which could also result in significant financial loss, legal liabilities and reputational damage.
