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North Korean hackers preyed on banks’ weaknesses; Japan grapples with the 500.com bribery scandal
26 February 2021 00:00
Duration: 25:44
A long-term, successful North Korean hacking heist targeting banks around the world has sparked a conversation about financial institutions’ readiness to take on cyberattacks. The hackers’ ability to make away with the loot and launder large sums has also raised questions about how lax practices have played into the hands of criminals. Meanwhile, in Japan the 500.com bribery scandal has left observers to question how effective the country is likely to be in regulating its new, growing gambling industry.
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For years, North Korean-led hackers allegedly slipped into the computers of banks around the world.
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More than one year since allegations emerged that Chinese online gambling company 500.com had paid bribes in Japan.
Editorial Team
James Panichi Senior Editor, Asia Pacific

James, an Australian journalist with over 25 years’ experience in print and electronic media, is spearheading MLex’s coverage of regulatory risk in Australia and New Zealand. In 2016, James was appointed as MLex’s managing editor for continental Europe, overseeing the Brussels bureau’s coverage of EU regulatory affairs and managing a team of 16 journalists in Brussels and Geneva. Previously James worked for the European Voice newspaper, before joining the European operation of US political website... Read more
Ben Lucas Correspondent

Ben Lucas is a correspondent based in MLex's Hong Kong office covering financial crime in the Asia-Pacific region. Before moving to Hong Kong in 2018, Ben reported on financial crime and compliance in the UK and Europe for MLex from our London office. He joined MLex in November 2015 after graduating with a Master's degree in journalism from City, University of London.
Toko Sekiguchi Senior Correspondent, Tokyo

Toko is a senior reporter in Tokyo covering antitrust, anti-bribery & corruption and regulatory issues. Before joining MLex, she has worked as a journalist for Dow Jones News, Bloomberg News and Time Magazine.