Regulatory Alerts2016-05-24
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Cybersecurity Fortification Initiative
The Hong Kong Monetary Authority issued this circular to mandate the adoption of the Cybersecurity Fortification Initiative by all authorized institutions to enhance sector-wide cyber resilience. The initiative requires banks to participate in a risk-based Cyber Resilience Assessment Framework, utilize certified professionals for security evaluations, and join a Cyber Intelligence Sharing Platform. These measures are supported by a new Professional Development Programme designed to increase the supply of qualified cybersecurity experts within the industry.
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