Regulatory Alerts2014-08-12
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Disruptions of critical banking services
The Hong Kong Monetary Authority reiterates that authorized institutions must maintain robust incident management capabilities and high system availability to mitigate disruptions to critical banking services. Institutions are required to promptly notify affected customers, issue public announcements when necessary, and implement rigorous disaster recovery and preventive controls to address weaknesses in change management and system resilience. Management is expected to commission regular reviews of these areas to ensure adequate oversight and to protect customer interests and institutional reputation.
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