BANKING SECTOR CHALLENGE: Hong Kong's central financial district's (l-r) Bank of China Tower, Cheung Kong Centre, HSBC headquarters, Standard Chartered Bank and Legislative Council. Some hot markets for core modernisation include Malaysia, Singapore, Australia, Taiwan, and Hong Kong, said IDC in the 2014 predictions report. — Reuters
HONG KONG: Hong Kong's central bank has a launched a new program to strengthen lenders' ability to protect their critical technology systems after recent attacks by unidentified groups on a global messaging system used by the financial community.
The Hong Kong Monetary Authority's latest measure, known as the "Cybersecurity Fortification Initiative (CFI)," plans to raise the level of cybersecurity at banks in Hong Kong through a three-pronged approach and follows similar steps taken by its counterparts from London to Vietnam.
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