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North Korean hackers preyed on banks’ weaknesses; Japan grapples with the 500.com bribery scandal

North Korean hackers preyed on banks’ weaknesses; Japan grapples with the 500.com bribery scandal

26 February 2021 00:00

MLex Market Insight · North Korean hackers preyed on banks’ weaknesses; Japan grapples with the 500.com bribery scandal

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.

North Korean hackers said to have identified banks’ vulnerabilities

For years, North Korean-led hackers allegedly slipped into the computers of banks around the world.
500.com bribery case sees eight convicted in Japan, but company remains untouched for now

More than one year since allegations emerged that Chinese online gambling company 500.com had paid bribes in Japan.

Editorial Team

James Panichi

Toko Sekiguchi

James Panichi Senior Editor, Asia Pacific

James, an Australian journalist with over 25 years’ experience in print and electronic media, helps to oversee MLex’s coverage of regulatory risk in Asia, with special attention to 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... Read more

View all posts written by James Panichi

Toko Sekiguchi Senior Correspondent, Tokyo

Toko is a senior correspondent in Tokyo covering antitrust, anti-bribery & corruption, financial services and regulatory issues in Japan. Before joining MLex, she has worked as a journalist for The Wall Street Journal, Dow Jones News, Bloomberg News and Time Magazine.

View all posts written by Toko Sekiguchi

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