HKMA prepares cyber security ‘fortification’

The HKMA is moving quickly to raise Hong Kong's cyber defences

The Hong Kong Monetary Authority (HKMA) is looking to help banks toughen their cyber defences amid a spate of computer-based attacks on financial institutions.

On May 18, the monetary authority launched its 'Cybersecurity Fortification Initiative'. Supervisors are drawing up a common framework for assessing the "cyber resilience" of the roughly 200 banks in Hong Kong, preparing a training programme to improve bank staff's ability to deal with threats, and building a platform for sharing cyber

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