Japan Brokerages to Tighten Authentication After Accounts Hacked
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Japan’s securities industry group is urging brokerages to tighten identification requirements for client accounts following a spate of hacking incidents that led to unauthorized stock trading.
A working group for online trading has begun discussions on revising guidelines to prevent fraudulent transactions, Japan Securities Dealers Association Chairman Toshio Morita said at a news briefing on Wednesday. The aim is to make brokerages use a method of identification verification that requires two or more elements, he added, confirming an earlier Bloomberg News report.