Japan FSA Begins Cyberattack Drill with 160 Financial Firms

Politics

Tokyo, Oct. 18 (Jiji Press)--Japan's Financial Services Agency on Tuesday started an annual exercise to check how well financial institutions are prepared to deal with cyberattacks.

The FSA-organized drill, which takes place every October, was launched in fiscal 2016. The ongoing seventh exercise is joined by a record some 160 financial institutions, including banks, securities firms and crypto asset exchange operators. It is slated to run until Oct. 27.

Assuming customer information leaks and business system outages, among other incidents, participating institutions hope to upgrade their abilities to counter cyberattacks.

The FSA will examine financial institutions' response capabilities related to remote work following an increase in attacks targeting telework systems amid the spread of the work style in line with the COVID-19 pandemic.

Specifically, participants will check their initial actions, responses to customers and processes to restore affected systems so that they can share ways to enhance countermeasures.

[Copyright The Jiji Press, Ltd.]

Jiji Press