Japanese Banks Hit by Record Cybertheft

The video discusses a surge in cybertheft, with $16 million stolen from Japanese banks in six months. Most perpetrators are Chinese nationals. The operation involves tricking customers, transferring money, and laundering it through purchases in Japan. Japan and China are now cooperating to tackle cybercrime. Japanese banks are alerting customers and compensating victims, but face ongoing challenges as criminals constantly adapt their methods.

How are Japanese authorities responding to the rise in cyber crime?

What challenges do banks face in protecting their customers from cyber theft?