14. New Risks from Fintech (1) Cyber Security

Excerpt

Every year, cyberattacks targeting countries and corporations are becoming more sophisticated and intense. In a 2017 survey by Japan’s Ministry of Internal Affairs and Communications (MIC), around half of all Japanese companies reported “some kind of loss resulting from a security breach (…) in the past year.” ¹ Chart 1 lists some of the major cyber security incidents that have taken place in the past few years. In recent years, attacks have frequently targeted information assets or systems owned by the state or corporations, in particular, causing damage on a large scale. Most of these attacks are thought to be by criminal organizations or nation states and are sophisticated, organized attacks.

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