Taiwan FSC Strengthens Financial-Sector Cybersecurity Coordination and AI Talent Development
Pi Wallet, owned by PChome, was reportedly hacked in a breach involving the personal data of about 3.5 million users, renewing scrutiny of data protection and cross-institutional incident response in the electronic payments industry. Meanwhile, advances in quantum computing and AI are accelerating both cyberattacks and defenses. Existing public-key cryptography could eventually be cracked, requiring financial institutions to upgrade encryption systems early and cultivate cybersecurity talent.
Taiwan's Financial Supervisory Commission issued its Reference Guidelines for the Financial Industry's Migration to Post-Quantum Cryptography on June 18, 2026, recommending that firms complete the transition by 2035 at the latest. A July 2 report quoted FSC Chairman Peng Jin-lung as acknowledging that salary structures constrain the recruitment of AI cybersecurity professionals. The Banking Bureau said the Financial Information Sharing and Analysis Center, or F-ISAC, operated by the Financial Information Service Co., would share hacker intelligence in real time and extend its coordinated defenses to the electronic payments industry.
All Coverage
1 original reportsThe Backstory
The history behind this eventTaiwan FSC Issues Post-Quantum Cryptography Guidelines to Prepare for Financial Risks
As quantum computing capabilities continue to advance, the asymmetric encryption used in financial transactions could eventually be broken, exposing customer identities, transaction data and information retained for long periods. Taiwan’s Financial Supervisory Commission is therefore promoting migration to post-quantum cryptography to help financial institutions adjust their cybersecurity governance and encryption architecture in advance.
The FSC has issued its Reference Guidelines for Post-Quantum Cryptography Migration in the Financial Sector, setting out seven major strategies, including governance mechanisms and an inventory of cryptographic technologies. The guidelines also call for a cryptographic bill of materials, or CBOM, and cryptographic agility. They treat the possible emergence of quantum computers in 2029 as a risk milestone, encouraging the financial industry to begin planning its migration early.
Taiwan FSC Details Financial Cyber Resilience Blueprint Progress, Plans PQC Migration Guidance
Taiwan's Financial Supervisory Commission is advancing its Financial Cyber Resilience Development Blueprint, focusing on AI governance, zero-trust architecture and software bills of materials (SBOMs). The initiative aims to help banks, insurers and securities firms maintain critical services as attacks accelerate and supply-chain risks grow. AI, in particular, has sharply shortened the time needed to weaponize vulnerabilities, requiring financial institutions to incorporate vulnerability management into business continuity and governance.
The FSC recently released results from the blueprint's first six months, covering tiered AI governance, zero-trust implementation practices and greater SBOM transparency. It also recommended that financial firms establish vulnerability operations, or VulnOps, mechanisms. With quantum computers potentially capable of breaking current cryptographic systems, the FSC plans to issue post-quantum cryptography (PQC) migration guidance for the financial sector. Its May 11–15 cybersecurity weekly report also highlighted ongoing Linux zero-day attacks and risks from the Dirty Frag vulnerability chain.
Subscribe to Mark Radar Weekly
Every Friday, the week's strongest signals in your inbox. Unsubscribe anytime.