HKMA prepares cyber security ‘fortification’
Monetary authority wants banks to strengthen their 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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