China’s financial regulator told its banks and insurers to thoroughly review cyber and data security across all their businesses, underscoring the government’s increased focus on national security and data integrity.
The National Financial Regulatory Administration (NFRA) asked banks and insurers to fix any identified loopholes to guard against the risk of ransomware attacks by mid-January, according to sources familiar with the matter. Banks were urged to reinforce the secure usage of e-mails and protect against phishing.
