HKMA warns Hong Kong banks lag on quantum security

Hong Kong’s banking industry received a Quantum Preparedness Index score of 2.3 out of 10 on July 27, showing that lenders remain at an early stage of preparing for quantum-related cyber risks. Summary Hong Kong banks scored 2.3 out of 10 on the HKMA’s inaugural preparedness index. 32% of surveyed banks had not started preparing for post-quantum cryptography risks or migration efforts. HKMA targets full sector readiness by 2030 through a toolkit, workshops and coordinated industry guidance. The Hong Kong Monetary Authority published the benchmark alongside its first whitepaper on quantum preparedness at the eighth FiNETech conference. The index uses four categories: awareness, planning, pilot programmes and practical preparedness. The regulator said banks were largely focused on building basic knowledge and governance rather than deploying quantum-resistant systems. Hong Kong banks remain early in quantum readiness The HKMA’s early-2026 survey found that 68% of responding banks had developed some awareness or moved into planning or pilot stages. The remaining 32% had not started their transition journey. Around half lacked a formal plan for adopting post-quantum cryptography. Notab...