Cybersecurity Fortification Initiative

Cybersecurity Fortification Initiative

The HKMA has launched its ‘Cybersecurity Fortification Initiative,’ a new scheme designed to enhance the resilience of banks against cyber attacks.

Cybersecurity Fortification Initiative

In light of increasing cyber threats, regulators across the globe are focusing their efforts on improving the cybersecurity of banking systems. The Hong Kong Monetary Authority (HKMA) recently announced the launch of the ‘Cybersecurity Fortification Initiative’ (CFI), a new scheme designed to enhance the resilience of Hong Kong banks to cyber attacks.

The CFI comprises three main areas: the cyber resilience assessment framework, a new benchmark for banks to assess their resilience against cyber attacks; the cyber intelligence sharing platform, a platform for banks to collaborate on cyber attacks; and the HKMA’s professional development programme, a training programme for cybersecurity. 

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