Premier William Lai has told the Financial Supervisory Commission (FSC) to complete a brand new cybersecurity platform by the end of this year.
Last Friday, Far Eastern International Bank reported that its computer system had been hacked. The hack resulted in total losses exceeding US$60 million. The case is currently being investigated.
Lai told the Cabinet on Thursday that cybersecurity has become a key issue in an age where everything in the finance industry is digitally connected. He said the latest cyber heist is just the latest in a series of similar cases in recent years. He said it is of the utmost importance for the FSC to complete a new cybersecurity platform for the finance sector.
Lai has also called on all government departments to integrate their resources and enhance their cybersecurity measures.