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North Korean hackers preyed on banks’ weaknesses; Japan grapples with the 500.com bribery scandal
26 February 2021 00:00
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.
For years, North Korean-led hackers allegedly slipped into the computers of banks around the world.
More than one year since allegations emerged that Chinese online gambling company 500.com had paid bribes in Japan.