Cyber attack fears in Japan ahead of the Tokyo Olympics according to the Bank of Japan

Cyber attack fears in Japan ahead of the Tokyo Olympics according to the Bank of Japan 

Noriko Watanabe and Lee Jay Walker

Modern Tokyo Times

The Bank of Japan is calling on financial companies to be fully aware of possible cyber threats in the run-up to the Tokyo Olympic Games this summer. Indeed, in a survey of just over four hundred institutions in the financial sector, a majority claimed that cyber threats had increased since 2017.

Equally important, before the start of the Winter Olympics in South Korea in 2018, it became known that the information technology system had been infected. Thus, Wi-Fi networks, the official Olympic website, and display monitors had been infected by potent malware.

Suspicions immediately fell on the usual players but Kaspersky stipulated it was the Lazarus Group. This active organization is known to have links with North Korea even if the capacity and the driving force remains vague. Hence, the Bank of Japan will be equally worried about the sub-group called Bluenoroff that specializes in cyberattacks in the financial arena.

Kaspersky claims that the source code evidence led to the Lazarus Group. Yet, Kaspersky did caution that a “false flag” might have occurred based on the repetition of the code. Indeed, given the fact that both North Korea and South Korea were making positive overtures then the real infiltration may never be fully known.

Irrespective of this, the Lazarus Group and others might seek out the ongoing weaknesses within the financial sector and major institutions of Japan. Hence, the Bank of Japan warned, “Progress in digital technology has led to a sharp increase in cyber-security risks for financial institutions.”

The warning continued by stating, “Cyber-attacks may increase ahead of the Tokyo Olympic and Paralympic Games this year.”

Overall, the Bank of Japan is warning financial companies to be vigilant and the same applies to important institutions. Likewise, it is essential to keep up with the changing cyber times that are continuous and extremely challenging.

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