At its fifth annual meeting, the Monetary Authority of Singapore’s (MAS) Cyber Security Advisory Panel (CSAP) provided insights on how MAS and financial institutions (FIs) can bolster their cyber defences. Key insights from the CSAP meeting include: Strengthening security against cyber attacks in IT supply chains; Improving online payment and banking security; Countering ransomware threats; Securing blockchains and digital currencies.The Panel noted that the security awareness and competency of most developers in the blockchain space were not where they needed to be, and more could be done to strengthen security in their software development lifecycle. The Panel also highlighted the need to build up a sufficient pool of IT professionals who are well-versed in both blockchain technology and cyber security, and making more tools available to aid in the security implementation and testing of blockchains.