The Hong Kong Monetary Authority ( HKMA ) has launched a competency framework for cyber security . The banking regulator said the move would help lenders foster innovation and provide a platform for the development of innovative banking services . In a statement , the regulator said that with the increasing number of attacks on financial institutions , it was important to improve capabilities to defend against such attacks . Although not mandatory , institutions are being encouraged to adopt it . Banks are also being required to keep records of the training and qualifications of staff engaged in cyber security .
The Hong Kong Monetary Authority (HKMA) has launched a competency framework for cyber security. The banking regulator said the move would help lenders foster talent and provide a platform for the development of innovative banking services. In a statement, the HKMA said that with the increasing number of cyberattacks on financial institutions, it was important to improve capabilities to defend against such attacks. Although not mandatory, institutions are being encouraged to adopt it. Banks are also being encouraged to keep records of the training and qualifications of staff engaged in cyber security.