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HKAB seeks answers on breach

Business | Kevin Xu May 21, 2019
The Hong Kong Association of Banks yesterday said it has been closely in touch with TransUnion to identify the root cause behind last year's security breach of its online credit report services and expected Hong Kong's sole credit rating agency to "review the competency of its cybersecurity management team."

The HKAB's comments came following a local report which said the HKAB had found TransUnion's report on the breach was incomplete, had discrepancies and needed revisions.

HKAB added that TransUnion is required to "provide a full professional independent review report" and "appoint an independent third party to assess the effectiveness of remedial measures."

TransUnion, which keeps credit records of 5.4 million consumers, suspended all online credit report services last November after local media revealed the breach.

HKAB said TransUnion will not resume the online credit report services "until all remedial measures are taken."



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