The Monetary Authority of Singapore (MAS) issued an advisory, dated January 15, alerting financial institutions of critical vulnerabilities in the Microsoft Windows operating system.
According to a statement by MAS, these vulnerabilities could allow malicious files or applications to bypass detection from security applications and gain control of computer systems, leaving financial firms vulnerable.
The regulator informed financial institutions using the affected Windows operating systems to take immediate action to install the relevant patches. Financial institutions should also take mitigating measures to prevent the vulnerabilities from being exploited, it added.
Microsoft has released security updates to address 49 vulnerabilities. The Cyber Security Agency of Singapore (CSA), tagged four vulnerabilities as highly critical, thus requiring immediate attention from organisations.
“MAS will continue working closely with financial institutions to monitor cybersecurity developments and ensure that IT systems in the financial sector are safeguarded and remain resilient against cyber threats,” the regulator said in its statement.