Japan has a lot of work to do to finish preparing for the Olympics in approximately 170 days. There is a seemingly insurmountable amount of effort remaining to secure the country from Olympics-related cyber attacks. Now the Bank of Japan is warning the Financial Services Industry to take appropriate measures to prepare for the inevitable:
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 specializing in cyber incidents, the survey showed.
Still, about 60% of the 402 financial institutions surveyed said they were not able to secure enough staff to oversee measures to deal with cyber-attacks.