(Excerpt)
(Tuesday, May 13, 2025, ９:32 am to ９:43 am)
- Q.
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I would like to ask you about unauthorized access to customer accounts at securities companies.
According to the Financial Services Agency, from January to April 2025, unauthorized access to customer accounts of securities companies resulted in 6,380 account hijackings and 3,505 unauthorized transactions, with sales amounting to approximately 161.2 billion yen and purchases amounting to approximately 143.7 billion yen.
Since the time of the Kishida administration, the Japanese government has promoted financial investment on a large scale, such as the new NISA, but as a result, the number of amateur retail investors has increased rapidly, and it seems possible that they have become the victims of fraud groups.
Regarding this issue, the Japan Securities Dealers Association and its 10 member companies have announced a policy of compensating damages to a certain extent regardless of their agreement clauses. However, I believe that the Japanese government and the Financial Services Agency, both of which have extensively encouraged financial investment to the public, should promptly establish a countermeasure team to survey and investigate whether the unauthorized access originated from outside Japan or from within Japan, and take a strong stance against unauthorized access. I also believe that this is the responsibility of the supervisory authorities. Please tell us your thoughts. - A.
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First of all, regarding the online brokerage service for securities accounts, as you just mentioned, the damage caused by unauthorized access and unauthorized transactions has been increasing rapidly.
The Financial Services Agency has issued several alerts to investors on its website.
In addition, the Financial Services Agency has called on industry organizations and securities companies to strengthen security in online transactions and take customer-specific measures to compensate for customer damage. Industry organizations and securities companies are working to make multi-factor authentication mandatory at login. Also, on May 2, the Japan Securities Dealers Association and 10 securities companies agreed and announced a policy to compensate customers for damages to a certain extent in this issue.
I am also aware that the Japan Exchange Group (JPX), which owns the Tokyo Stock Exchange, is strengthening its surveillance of unauthorized transactions.
Maintaining trust in financial services is a prerequisite for financial transactions. The Financial Services Agency is taking actions across bureaus under the direct control of its Commissioner to ensure that investors can trade shares with ease. We will continue to work closely with relevant ministries and agencies, industry organizations, securities companies, and JPX to prevent damages caused by unauthorized access and unauthorized transactions, with strong determination.
