Cybersecurity for the Cayman Islands Monetary Authority's (CIMA) | UpGuard

This document explains CIMA’s Rule and Statement of Guidance – Cybersecurity for Regulated Entities, a regulatory framework effective since November 27, 2020, that mandates minimum cybersecurity standards for Cayman Islands financial institutions. It highlights key requirements such as establishing a cybersecurity framework, governing body oversight, incident response and recovery plans, workforce training, third-party risk management, data protection, and 72-hour incident notification, as well as penalties for non-compliance. The paper also notes 2023 measures on internal controls and corporate governance that support and extend these cybersecurity expectations.