Regulatory Alerts2020-11-03
Added · Updated
Cybersecurity Fortification Initiative 2.0
The Hong Kong Monetary Authority issued this circular to introduce the Cybersecurity Fortification Initiative 2.0, which enhances the banking sector's cyber resilience through updated frameworks and international best practices. The initiative incorporates revised control principles for incident response, expanded professional certification qualifications, and improved user-friendliness for the Cyber Intelligence Sharing Platform. CFI 2.0 becomes effective on 1 January 2021, with authorized institutions required to complete phased assessments by March 2023 based on their assigned risk groups.
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