AWS achieves OSPAR outsourcing standard for Singapore financial industry
August 22, 2019: We’ve updated the number of services for which AWS has received an OSPAR attestation.
AWS has achieved the Outsourced Service Provider Audit Report (OSPAR) attestation for 64 services in the Asia Pacific (Singapore) Region. The OSPAR assessment is performed by an independent third party auditor. AWS’s OSPAR demonstrates that AWS has a system of controls in place that meet the Association of Banks in Singapore’s Guidelines on Control Objectives and Procedures for Outsourced Service Providers (ABS Guidelines).
The ABS Guidelines are intended to assist financial institutions in understanding approaches to due diligence, vendor management, and key technical and organizational controls that should be implemented in cloud outsourcing arrangements, particularly for material workloads. The ABS Guidelines are closely aligned with the Monetary Authority of Singapore’s Outsourcing Guidelines, and they’re one of the standards that the financial services industry in Singapore uses to assess the capability of their outsourced service providers (including cloud service providers).
AWS’s alignment with the ABS Guidelines demonstrates to customers AWS’s commitment to meeting the high expectations for cloud service providers set by the financial services industry in Singapore. Customers can leverage OSPAR to conduct their due diligence, minimizing the effort and costs required for compliance. AWS’s OSPAR report is now available in AWS Artifact.
You can find additional resources about regulatory requirements in the Singapore financial industry at the AWS Compliance Center. If you have questions about AWS’s OSPAR, or if you’d like to inquire about how to use AWS for your material workloads, please contact your AWS account team.
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