Monday, November 20, 2017

Hong Kong’s Astri expands cyber coverage to insurers

Hong Kong’s Applied Science and Technology Research Institute (Astri), which earlier launched a system to protect banks, is now in discussions with insurance and securities regulators to create a similar offering for them.

Astri, which promotes financial technology in the country, is now coordinating with insurers and finance officials to expand its cybersecurity network in these industries.

Earlier, the research institute devised a system to protect the banking sector from cyberattacks, partnering with the Hong Kong Monetary Authority.

Launched in December last year, the platform allows 156 banks in the country to share information when they become aware of hacker attacks and other cyber threats.

Frank Tong Fuk-kay, chief executive of Astri, says institute is now in initial talks with the Hong Kong Federation of Insurers and the Securities and Futures Commission to set up similar cybersecurity platforms for them.

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