Taiwan Urges U.S. Assistance to Defend Banks from Cyberattacks

Posted under: Online Security
Date: 2023-12-13
Taiwan Urges U.S. Assistance to Defend Banks from Cyberattacks

Taiwan, with a $760 billion high-tech economy, is urged to improve its cybersecurity measures against advanced hacks, especially from China. Government officials and financial institutions are collaborating with US experts and cybersecurity firm SimSpace Corp. to conduct simulated cyberattacks, compressing three weeks of digital assaults into an eight-hour drill. Taiwan, vulnerable to state-sponsored attacks, particularly during geopolitical events, grapples with defending against espionage, data theft, and persistent network breaches. The urgency to strengthen digital defenses arises as Taiwan sits at the center of US-China tensions, with an upcoming critical presidential election and concerns about potential cyber warfare. Despite being a leader in chipmaking technology, Taiwan's cybersecurity preparedness varies across sectors, prompting efforts to fortify its resilience against sophisticated cyber threats.

Read more at: www.bloomberg.com