Cybersecurity: Asia gets ahead of the game

Financial institutions in the region are taking pre-emptive steps to fend off hackers after banks in Taiwan and Bangladesh were hit. Investors need to be aware of the risks.

Earlier this year, hackers seized personal information including social security numbers, emails and phone numbers for 143 million Americans and another 400,000 people in the UK from Equifax, a credit-scoring agency, erasing billion of dollars from its market value and sparking a slew of senior management departures and a federal investigation.

For investors, the incident was a stark reminder of how a cyberattack can hit your bottom line even if you are not directly on the receiving end. Recent cases in Asia, too, have underlined the very real danger from hackers, especially for financial institutions.

Lessons from the Equifax were put under the spotlight in Hong Kong...

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