Cybersecurity is of paramount importance to any organisation's business strategy today. The occurrence of cyber-attacks, such as the recent Wannacry and Petya cyber-attacks, has resulted in the need for more vigilance and caution amongst the IT function of global businesses, which depend on the internet for conducting their internal and external business activities.
Despite it's paramount importance, cybersecurity amongst Asian capital markets is lagging behind their North American and European counterparts. Although Asian capital markets have grown to compete with and even overtake their Western rivals by investing heavily in modern technology, the same cannot be said about cybersecurity technology.
Whilst Asian markets might be at a disadvantage due to their late start in developing cybersecurity strategies, there is still time for them to improve their capabilities. In fact, many of them are now working closely with their governments and regulated firms to ensure that there is a higher level of attentiveness, preparation and proactivity regarding cybersecurity.
This report starts with a general market overview highlighting both the history of cybersecurity threats and industry trends, before discussing the potential strategies Asian markets could look to adopt. The next section looks at the challenges for market participants, including the lack of awareness and the requirement for more effective regulation, which leads to a discussion about the various measures that Asian capital market regulators are taking to ensure that their jurisdictions are up to speed. Finally, the report considers the future of cybersecurity policy in the Asian context, and what more can be done to ensure that Asian capital market participants are not vulnerable to attacks from both state and non-state actors.