China's Banking Regulator to Step Up Protection After Cyber Attack i

China's banking regulator said on Wednesday (17/05) it will strengthen cyber security protection at banks to prevent "disruptive systemic risk events" after the global WannaCry "ransomware" attack infected more than 300,000 computers in 150 countries. (Reuters Photo/Kacper Pempel)

By : Reuters | on 5:00 PM May 17, 2017
Category : International, Asia-Pacific

Beijing. China's banking regulator said on Wednesday (17/05) it will strengthen cyber security protection at banks to prevent "disruptive systemic risk events" after the global WannaCry "ransomware" attack infected more than 300,000 computers in 150 countries.

The China Banking Regulatory Commission (CBRC) said in an emailed statement it has not received any major infection reports from the country's banks on the cyber attack.

The attack had infected close to 30,000 Chinese organizations by Saturday evening, Chinese security software maker Qihoo said. But the spread of the WannaCry worm in the country appeared less aggressive than initially feared, said an official at China's cyber administrator.

CBRC also pledged to increase its own cyber security management and risk prevention capabilities, and guide banks to conduct monitoring, assessment, early warning and prevention for similar events.

China is preparing to enforce a wide-reaching cyber security law that United States business groups say will threaten the operations of foreign firms in the country with strict local data storage laws and stringent surveillance requirements.

Reuters

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