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 . "Given the growing number of cyber attacks to financial institutions in recent years, it is essential to improve AIs' preparedness and capability to defend for such attacks," the HKMA said in a circular to the industry. 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 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 .