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Central Bank and Three Departments: Financial Institutions to Reasonably Determine Network Security Protection Levels

AirdropBlackHole
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On July 3, the Central Bank and three other departments issued a notice soliciting public opinions on the 'Administrative Measures for Cybersecurity in the Financial Industry (Draft for Comments)'. Financial institutions are required to reasonably determine the security protection levels of their networks in accordance with the national cybersecurity classification protection system, fulfill their classification filing obligations, conduct regular cybersecurity assessments, and promptly rectify any risks identified during these assessments. Financial institutions must also regulate personal information processing activities in accordance with laws, administrative regulations, and relevant provisions from national and State Council financial management departments to ensure the security of personal information. Financial institutions are encouraged to use national network identity authentication public services for user identity verification.
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