Policy · Updated 12 Oct, 10:42 am IST
Japan urges banks to adopt chip IDs after recent data breaches
Why it matters for readers: It explains why governments sometimes force different ID checks after big data breaches to protect people's information.
- The Financial Services Agency on 9 October called on banks to accelerate use of chip-enabled passports and MyNumber cards for opening accounts.1
- Regulators recommended lenders move away from using driving licences as the primary identity verification method.1
- The guidance follows reports of more than 20 major companies and institutions reporting cyber incidents that exposed personal data.1
- One reported incident may have exposed about 1.67 million JR East email addresses, heightening concern about data security.1
- Officials warned that increasingly sophisticated attacks, and possible use of AI by attackers, could broaden the scope of vulnerabilities.1
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