Bank Of Japan Alerts Chance Of Cyber-Attack Ahead Of Olympic Games

On Friday, the Bank of Japan stated that Japan’s financial institutions must safeguard versus cyber-attacks.

The matter should be done ahead of the 2020 Tokyo Olympic Games, with approximately 40% of banks and other businesses experiencing attacks over the past three years.

Moreover, the escalating risk of cyber-attacks has prompted the Bank of England and other central banks.

It is to take action to guarantee that banks, insurers, and other financial companies reduce the impact of cyber-attacks or technology outages.

In a BOJ survey conducted last September, approximately 40% of respondents indicated they had undergone cyber-attacks.

To add, more than 10% have undergone disturbances to their business.

Over 70% considered that the threat of cyber-attacks has soared since 2017.

It was proven the last time the BOJ conducted a similar investigation. Meanwhile, almost 60% stated they have departments concentrating on cyber incidents, the survey demonstrated.

However, around 60% of the 402 financial institutions examined stated they were not able to secure enough staff.

The safety was to administer measures on dealing with cyber-attacks.

In a survey, the BOJ said, “Progress in digital technology has led to a sharp increase in cyber-security risks for financial institutions.”

Moreover, “Cyber-attacks may increase ahead of the Tokyo Olympic and Paralympic Games this year, which is a risk we must be vigilant to,” it said.

Tokyo Olympics 2020 Coordinators Play Down Rumors Of Revocation

Elsewhere, Japan will host the 2020 Olympics in the months of July and August.

Tokyo Olympics organizers are attempting to shoot down allegations that this year’s 2020 Games might be canceled or postponed.

The news rose because of the circulation of a new virus that originated in China.

So far, Japan has stated no deaths from the coronavirus that has killed greater than 200 individuals in China.

In addition, Japanese coordinators have hesitated to speak much for several days.

However, today they have addressed the speculations.

The International Olympic Committee also has said a little about their concerns.

On July 24, the Olympics is just under six months away.

In a statement on the local press, “We have never discussed canceling the games,” Tokyo organizers said.

The organizers added, “Tokyo 2020 will continue to collaborate with the IOC and relevant organizations and will review any countermeasures that may be necessary.”

On the flip side, rumors of withdrawal have spread in Japan.

The speculation goes along with reports that the Swiss-based IOC has met with the about the outburst.

Moreover, the World Health Organization has dubbed the infection as a global emergency.