New Supervisory Policy Manual (SPM) Module TM-C-1 on “Supervisory Approach on Cyber Risk Management

The Hong Kong Monetary Authority (HKMA) has issued a new SPM module, TM-C-1, on “Supervisory Approach on Cyber Risk Management” as a statutory guideline under the Banking Ordinance. This module outlines the HKMA’s policy, principles, and supervisory approach for managing cyber risks in light of increasing threats and their potential systemic impact on financial stability. It consolidates existing guidance without introducing new requirements, emphasizing collaboration within the banking sector and broader ecosystem. The module is accessible online.

Resources: https://www.hkma.gov.hk/media/eng/doc/key-information/guidelines-and-circular/2024/20241129e2.pdf