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Hong Kong Updates Cybersecurity Fortification Initiative

November 6, 2020

The Hong Kong Monetary Authority’s Cybersecurity Fortification Initiative 2.0, an updated version of the framework designed to strengthen cyber resilience in the banking and financial sector, will officially roll out in January and be implemented over the following two years, officials say.

While the updated version of the cybersecurity framework will become official in January, banks and financial institutions in Hong Kong will have until December 2023 to complete most of the tasks required, including risk and maturity assessments as well as other auditing, officials say.

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