Latest news with #JapanSecuritiesDealersAssociation
Japan Times
6 hours ago
- Business
- Japan Times
Online brokerage account hijackings continue in Japan
Online brokerage accounts in Japan continue to be hijacked in significant numbers, according to the Financial Services Agency. In May, 2,289 unauthorized transactions were logged, and ¥200 billion of fraudulent trades were made, the FSA said in a report released last week. That's down from April's 2,910 illicit transactions and about ¥290 billion in fraudulent trading but still high by historical standards. Alleged fraudsters are still taking advantage of possible security loopholes to hijack user accounts and invest the assets to their advantage. Since March, the number of online brokerage hacking cases has skyrocketed in Japan. The total number of illicit transactions between March and May reached 5,886, while the value of unauthorized trading was more than ¥500 billion. Only 72 unauthorized transactions were reported for January and February. The Japan Securities Dealers Association has confirmed hijacking cases at 16 brokerages, including some of the largest, and warned that alleged cyber crooks are now targeting accounts at smaller securities companies as well. They use phishing techniques, malware and other illicit means to gain access to user accounts. Securities are then sold, and the proceeds are used to buy shares held by the hackers to prop up the prices of these shares. Cybersecurity experts have pointed out that hijacking incidences have increased significantly in recent months as hackers have found that many brokerages have security holes, such as a lack of multifactor authentication. Multifactor authentication adds an extra layer of security by requiring a second step, such as a fingerprint or a passcode sent by text or generated by an app or a separate device. A number of brokerages offer multifactor authentication, but whether to use it or not is up to the customer in many cases. To strengthen security, 76 brokerages have said they will make multifactor authentication mandatory for trading procedures, but it will take time for some brokerages to implement the extra security step. The FSA warns that users should not reuse the same password for different accounts. To protect from malware, it is also important to update operating systems, while installing an anti-malware service can be effective.
Bloomberg
6 hours ago
- Business
- Bloomberg
JSDA Said to Probe Brokerages on Unsuitable Japanese Bond Sales
The Japan Securities Dealers Association is probing brokerages on inappropriate bond selling practices such as overstating to issuers how much demand there is for their debt, according to people familiar with the matter. The securities industry group, which helps oversee the sector, sent questionnaires to nine major local and foreign brokerages that also asked whether they contacted investors about future bond offerings before official filings were submitted, said the people, who asked not to be identified because they were discussing private matters. Responses were due by the end of May.
The Mainichi
2 days ago
- Business
- The Mainichi
Japan brokerages donating shareholder perks to help kids in poverty
TOKYO (Kyodo) -- Japanese securities firms are donating the food and beverage gifts they receive as shareholder perks through their trading activities to nonprofit organizations to support children living in poverty amid inflation. The Japan Securities Dealers Association started the program in 2020, and around 2,300 donations had been made by March this year. Under the program, a list of shareholder perks is presented to registered organizations channeling the goods to recipients each week and the organizations then convey their requests to the securities firms. As of April, 61 companies and 48 organizations had registered with the program. Around 11 tons of rice and 8,600 liters of beverages have been donated, with rice and ready-made foods such as curry among the popular products. IwaiCosmo Securities Co. previously distributed shareholder perks to younger employees via a lottery as part of its welfare program, but now donates rice and canned goods to organizations. The Osaka-based brokerage has received feedback that its donations were delivered to single-mother households and served at a gathering of children. "We feel it is significant that goods are being used by people who really need them," a company official said. Monex Inc. has been donating shareholder perks to various organizations across the country since 2024, with an official saying it intends to continue using the program as it is difficult to find recipients on its own. NPO Bridge for Smile, which supports children and young people who cannot rely on their parents, receives donations of food and disaster stockpiles on a regular basis through the program. "As there are some people who only have one meal a day due to soaring rice prices, we are grateful that it helps them survive," said Ryuta Suzuki, a member of the group.
Kyodo News
2 days ago
- Business
- Kyodo News
Japan brokerages donating shareholder perks to help kids in poverty
KYODO NEWS - 1 hour ago - 09:55 | All, Japan Japanese securities firms are donating the food and beverage gifts they receive as shareholder perks through their trading activities to nonprofit organizations to support children living in poverty amid inflation. The Japan Securities Dealers Association started the program in 2020, and around 2,300 donations had been made by March this year. Under the program, a list of shareholder perks is presented to registered organizations channeling the goods to recipients each week and the organizations then convey their requests to the securities firms. As of April, 61 companies and 48 organizations had registered with the program. Around 11 tons of rice and 8,600 liters of beverages have been donated, with rice and ready-made foods such as curry among the popular products. IwaiCosmo Securities Co. previously distributed shareholder perks to younger employees via a lottery as part of its welfare program, but now donates rice and canned goods to organizations. The Osaka-based brokerage has received feedback that its donations were delivered to single-mother households and served at a gathering of children. "We feel it is significant that goods are being used by people who really need them," a company official said. Monex Inc. has been donating shareholder perks to various organizations across the country since 2024, with an official saying it intends to continue using the program as it is difficult to find recipients on its own. NPO Bridge for Smile, which supports children and young people who cannot rely on their parents, receives donations of food and disaster stockpiles on a regular basis through the program. "As there are some people who only have one meal a day due to soaring rice prices, we are grateful that it helps them survive," said Ryuta Suzuki, a member of the group. Related coverage: FEATURE: Japan's childless elderly turning wealth into goodwill Entrepreneur launches support service for int'l school kids in Japan
Kyodo News
2 days ago
- Business
- Kyodo News
Japan brokerages donating shareholder perks to help kids in poverty
KYODO NEWS - 18 minutes ago - 09:55 | All, Japan Japanese securities firms are donating the food and beverage gifts they receive as shareholder perks through their trading activities to nonprofit organizations to support children living in poverty amid inflation. The Japan Securities Dealers Association started the program in 2020, and around 2,300 donations had been made by March this year. Under the program, a list of shareholder perks is presented to registered organizations channeling the goods to recipients each week and the organizations then convey their requests to the securities firms. As of April, 61 companies and 48 organizations had registered with the program. Around 11 tons of rice and 8,600 liters of beverages have been donated, with rice and ready-made foods such as curry among the popular products. IwaiCosmo Securities Co. previously distributed shareholder perks to younger employees via a lottery as part of its welfare program, but now donates rice and canned goods to organizations. The Osaka-based brokerage has received feedback that its donations were delivered to single-mother households and served at a gathering of children. "We feel it is significant that goods are being used by people who really need them," a company official said. Monex Inc. has been donating shareholder perks to various organizations across the country since 2024, with an official saying it intends to continue using the program as it is difficult to find recipients on its own. NPO Bridge for Smile, which supports children and young people who cannot rely on their parents, receives donations of food and disaster stockpiles on a regular basis through the program. "As there are some people who only have one meal a day due to soaring rice prices, we are grateful that it helps them survive," said Ryuta Suzuki, a member of the group. Related coverage: FEATURE: Japan's childless elderly turning wealth into goodwill Entrepreneur launches support service for int'l school kids in Japan
