Japan warns of hundreds of millions of dollars in unauthorized trades from hacked accounts

Japanese regulators published an urgent warning about hundreds of millions of dollars worth of unauthorized trades being conducted on hacked brokerage accounts in the country. 

Japan’s Financial Services Agency (FSA) said on Friday that there has been a “sharp increase in the number of cases of unauthorized access and unauthorized trading” through online trading services. 

The trend was occurring, according to the agency, because of stolen customer information obtained through phishing websites “disguised as websites of real securities companies.”

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