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Press Release

FSC implements the “Financial Cyber Security Action Plan” in pursuit of secure, convenient, reliable and resilient financial services

2020-08-06
To strengthen the cyber defense capabilities of financial institutions and achieve secure, convenient, reliable and resilient financial services for customers, the FSC published the “Financial Cyber Security Action Plan” on 6 August 2020. This Plan is expected to serve as a guide for financial institutions as they work to build up their cyber defense capabilities. The Action Plan will run for a period of four years, will seek to enhance the competent authority''''s cyber security supervision, strengthen financial institutions’ cyber security governance and cyber security resilience, and implement cyber security joint defense, and will include 36 cybersecurity measures. The key approaches to implement the action plan include public-private partnership, differentiated regulatory treatment, resource sharing, compliance incentives, and international cooperation. The FSC will review the Plan’s performance once each half-year and adjust its content in response to cybersecurity trends and business needs.
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