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Cybersecurity is a challenge for Japanese organizations as cultural dynamics and a feeling of trust, rooted in ‘why would it happen to me’ prevail. Experiencing this first hand as the the head of cybersecurity and operational risk for a Japanese corporate bank in London, we were acutely aware of the experience and culture gap. A gap that has persisted for years and as the article points out led to a false sense of security, a lack of understanding of cyber risk management and lower levels of experienced cyber resources. That creates a problem Japanese corporations, that are required to complying with U.S and EU cyber regulation.
Regulation that effects Japanese organizations, as cyber regulatory compliance is a requirement for trade and access to capital markets. Organizations will not be able to outsource cyber regulatory and legal risk, as the boards of Japanese organizations will have to demonstrate their and their organizations compliance to cybersecurity risk management. If they require access to U.S capital markets, trade in or with the EU.
Japan is however not alone, just further behind the curve, the U.S, EU and UK face issues with cybersecurity risk management. The difference is that the U.S and EU have woken to the issues, the need to manage cybersecurity risk through regulation, and address cyber as a whole of society problem. Japan is struggling with its cultural identify and the very real issues that cyber presents as a national Security issue. As other nations build the walls then the hacker refocus on easier targets, that might be Japanese industry.
Ted Dziekanowski
#cybersecurity #cyberriskmanagement #cyberlaw #japan
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