
The financial regulator in China has instructed banks and insurers to conduct comprehensive assessments of cyber and data security across their entire operations. This emphasizes the government’s heightened emphasis on national security and the integrity of data.
In a directive issued at the close of the previous year, the National Financial Regulatory Administration directed banks and insurers to address any identified vulnerabilities by mid-January, with a particular focus on mitigating the risk of ransomware attacks, as reported by sources familiar with the situation.
The directive also urged banks to enhance the secure handling of emails and bolster defenses against phishing attempts, with insiders requesting anonymity while discussing this private matter.