Japanese regulatory authorities have responded to a recent surge in cyberattacks targeting the financial sector by mandating that domestic banks conduct comprehensive reviews of their current cybersecurity policies. This directive is part of a broader government effort to bolster the resilience of Japan’s financial infrastructure against digital threats.
Alongside the requirement for banks to reassess their internal security measures, the government is currently in the process of drafting an emergency cybersecurity policy package. This legislative and regulatory initiative aims to establish a more robust defense mechanism to address the recent wave of unauthorized access attempts and system vulnerabilities that have affected the banking sector.
The move underscores the increasing focus on digital resilience within Japan’s financial markets as institutions face persistent and evolving security risks. Further details regarding the specific components of the emergency package and the timeline for banks to complete their reviews are expected to emerge as the drafting process continues.
Source: Finextra
Original article: https://www.finextra.com/newsarticle/48646/japan-tells-banks-to-review-cyber-policies-following-wave-of-attacks?utm_medium=rssfinextra&utm_source=finextrafeed
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