Bank of Japan warns of cyberattacks ahead of Olympic Games

Japan’s financial institutions must guard against cyber-attacks ahead of the 2020 Tokyo Olympic Games, with nearly 40% of banks and other firms experiencing attacks over the past three years, the Bank of Japan said on Friday.
The increasing threat of cyber-attacks has prodded the Bank of England and other central banks to take action to ensure that banks, insurers and other financial firms minimise the impact of cyber-attacks or technology outages.
In a BOJ survey conducted in September, nearly 40% of respondents said they had experienced cyber-attacks, and more than 10% had suffered disruptions to their business.
Over 70% believed the threat of cyber-attacks has increased since 2017 – the last time the BOJ conducted a similar survey – while nearly 60% said they have departments specialising in cyber incidents, the survey showed.