Hong Kong Banks Score Just 2.3 Out of 10 on Quantum Threat Readiness

The Hong Kong Monetary Authority (HKMA) evaluated the quantum readiness of local banks and found a score of just 2.3 out of 10, highlighting a serious vulnerability to future quantum attacks on cryptographic systems.

According to the regulator, about half of the surveyed institutions have no formal plan to transition to quantum-resistant cryptography. This gap raises concerns as quantum computing advances could potentially break current encryption standards.

The HKMA aims to bring that readiness indicator to a perfect 10 by 2030, signaling an aggressive push to upgrade the financial sector's defenses against post-quantum threats.