Definition: relevant incident
Is this legally binding?
Binding, sectoral. Binding, but only for a defined population: one regulated sector, or the federal government and the vendors it buys from.
Defined term in the TRM notices triggering the 1-hour notification and 14-day report: a system malfunction (failure of any critical system) or IT security incident (security breach such as hacking, intrusion or denial-of-service on a critical system, or one compromising security, integrity or confidentiality of customer information) with severe and widespread impact on operations or material impact on customer service.
From the source
““relevant incident” means a system malfunction or IT security incident, which has a severe and widespread impact on the bank’s operations or materially impacts the Bank’s service to its customers”
Notice FSM-N05, para 2 Definitions
What this connects to
3 relations. Official relations are the ones the source documents state; anything marked GAGE analysis is our reading, not an agency's.
Cites1
- InstrumentMAS Notices on Technology Risk Management (TRM Notices)Binding, sectoral
Definition in Notice FSM-N05 para 2
Cited by2
- Obligation1-hour incident notification to MAS (the '1-hour rule')Binding, sectoral
Notification duty is triggered by discovery of a 'relevant incident' as defined
- ObligationRoot cause and impact analysis report within 14 daysBinding, sectoral
Report duty runs from discovery of the 'relevant incident'
Learn this properly
This page tells you what Definition: relevant incident is and whether it binds you. The AI Governance program teaches the whole discipline, with dedicated coverage of the Singapore governance stack and the MAS regime, and every topic is passed by explaining it back in your own words, graded against the source.
See the AI Governance programVerified against the official source on 2026-08-17. GAGE is not affiliated with or endorsed by any agency named here, and nothing on this page is legal advice. How this is built and checked.
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