Press Conference by KATO Katsunobu, Minister of Finance and Minister of State for Financial Services

(Excerpt)

(Friday, May 9, 2025, 8:39 am to 8:45 am)

Q.

I believe that the number of illegal transactions due to the hacking of securities accounts has increased very much, and the amount of damage has become quite large, over 300 billion yen. What are your thoughts on how to prevent such cases in the future, and on the policy and recognition of the current situation?

A.

Yesterday, we announced our concern regarding illegal access to securities accounts and illegal transactions. According to the announcement, the damage caused by illegal access to securities accounts and illegal transactions has continued to increase since the previous warning. In response, the Financial Services Agency website was updated yesterday to issue a new warning.
In addition, on May 2, the Japan Securities Dealers Association announced the securities companies that have decided to make multi-factor authentication mandatory, urging customers of securities companies to strengthen their security measures.
The Financial Services Agency will continue to ask each securities company to request security measures for its customers and to conduct thorough customer service. At the same time, in cooperation with industry organizations, we will work to improve the level of security in online transactions, including measures to prevent illegal access.
There are various types of compensation for customers in cases of illegal access to securities accounts and illegal transactions. The Financial Services Agency requires the Japan Securities Dealers Association and each securities company to respond to their customers in a courteous manner from the standpoint of customers. We believe that the recent announcement by the Japan Securities Dealers Association and each securities company of their policy of providing a certain amount of compensation for damages can be evaluated to a certain extent as part of their courteous response to this incident from the standpoint of customers.
In the future, each securities company will calculate the amount of damages and consider a specific compensation policy. The Financial Services Agency will continue to ask each securities company to respond to their customers in a courteous manner from the standpoint of customers and will follow up on the situation.