Regulatory Alerts2024-11-29
Added · Updated
Supervisory Approach on Cyber Risk Management
The Hong Kong Monetary Authority issues this statutory guideline to strengthen the cyber resilience of authorized institutions by requiring robust, risk-proportionate technology and cyber risk management frameworks. The policy mandates the implementation of the Cyber Resilience Assessment Framework, including intelligence-led attack simulations, and promotes the adoption of secure tertiary data backups to mitigate ransomware risks. Additionally, the HKMA enhances sector-wide defense through the Cyber Intelligence Sharing Platform, industry-led incident response simulations, and collaboration with domestic and international regulatory bodies.
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