CIMA Thematic Cybersecurity Review – Key Points For Regulated Entities

Good practices and areas of concern were identified within the key elements of the Cayman Islands Monetary Authority's Thematic Cybersecurity Review, issued at the end of June 2023. We recommend that all regulated entities read the report and table it for consideration by their respective boards or governing bodies.

Background

The Rule and Statement of Guidance set out the regulatory requirements and minimum expectations for managing cyber risks, to ensure that robust cybersecurity measures are in place to appropriately identify, protect, detect, respond to, and recover from cyber-related threats, incidents and breaches. The Rule was necessary to address cyber risk which had been identified as the key emerging threat for business and society.