Regulators to oversee computer system failures at Mizuho

That's not the only one, if critical IT system like financial industry can suffer this in Japan.

https://www.japantimes.co.jp/news/2020/10/16/business/financial-markets/tokyo-tse-system-failure-report/

https://japantoday.com/category/business/update-1-japan's-mufg-blames-atm-woes-on-system-glitch

there are plenty others that face similar things too.

https://www.reuters.com/article/ana-system-glitch/system-glitch-grounds-japans-ana-domestic-flights-idUST33048120080914

https://www.japantimes.co.jp/news/2021/04/28/national/medical-worker-data/

So a financial regulator knows more about IT than a bank? Or both know nothing.

The bankers are beginning to reap what they sow. It will be fun to watch.

Rinse and repeat.

Obe needs to like gambling to stay in that Mizuho bank.

The company I work for did penetration testing and general security testing for Mizuho a few years back. I wrote about it once here, under another article.

TLDR - an absolute horror, the top management thought that IT was useless to them and that the only thing they were paying for was real money.

I'm quite interested to see what the regulators will want to "oversee" and whether it will drive them crazy.

What they don't realize at Mizuho is that nowadays physical security in a bank is practically unnecessary (specifically in Japan), it is much more important to have a secure network today. And not like ENV with data just commented out inside the code of their site. Or unprotected POST and GET methods in internet banking where POST is not validated but just accepted if it is in a certain format.

For some of the things that were in our audit, Mizuho would lose its banking license in other countries, or at best be suspended.

Oh, how I wish I could tell more about the horrors we have found at Mizuho...