Cybersecurity Boost for 2020 Tokyo Olympics and Paralympics: Financial Institutions Under Scrutiny
With the 2020 Tokyo Olympics and Paralympics just around the corner, financial institutions in Japan are under increased scrutiny to ensure their cybersecurity systems are robust enough to withstand potential cyber threats.
Cybersecurity Concerns Remain High
According to a recent report by the Liaison Council, many financial institutions still have significant work to do to improve their basic cybersecurity management systems. The report highlights the need for FIs to take proactive steps to identify and address vulnerabilities before the Games begin.
Vulnerabilities Found
- Insufficient vulnerability scanning and penetration testing
- Lack of awareness among senior executives regarding cybersecurity risks
- Inadequate implementation standards for technical measures
Initiatives Launched to Strengthen Cybersecurity
To address these concerns, the Liaison Council has launched a series of initiatives to strengthen cybersecurity management systems at FIs. These include:
- Conducting cybersecurity assessments and exercises with FIs
- Providing training and guidance on risk assessment and incident response
- Encouraging mutual-help systems among banks and other FIs
Call to Action
The report emphasizes the need for all FIs to take immediate action to improve their cybersecurity posture, including:
- Conducting vulnerability scans and penetration testing
- Implementing effective incident response plans
- Ensuring that senior executives are fully aware of the risks
“The 2020 Tokyo Olympics and Paralympics present a unique opportunity for FIs to demonstrate their commitment to cybersecurity,” said [Name], spokesperson for the Liaison Council. “We urge all FIs to take these concerns seriously and take proactive steps to ensure their systems are secure.”
Monitoring Progress
The Liaison Council will continue to monitor the progress of FIs in strengthening their cybersecurity management systems, with a focus on verifying the effectiveness of these measures through exercises and other means.
Stay tuned for further updates on this developing story.