❓ What is happening?
On August 10, 2026, Japan's Financial Services Agency (FSA) updated the alert it first issued on April 3, 2025. Criminals build fake websites that imitate real securities companies (phishing sites), harvest customers' login IDs and passwords there, then use those credentials to access internet trading services and place trades as a third party. The methods vary, but in many cases the attacker operates the victim's account, sells the stocks held in it, and uses the proceeds to buy small-cap shares in Japan or overseas — leaving those small-cap shares sitting in the victim's account. The damage figures the FSA publishes are provisional, based on the date of occurrence as reported by each securities company, so cases that have not yet come to light may exist. Note also that the published "sale amount" and "purchase amount" are cumulative totals of repeated unauthorized trades within the same account, and do not match the customer's actual loss. The FSA stresses that this can happen at any securities company, so every user of internet trading must act. Where password-only login used to be common, securities companies are now moving to make phishing-resistant multi-factor authentication such as passkeys mandatory.
💡 Key points to remember
1Do not open links inside emails or SMS messages, even when the sender looks familiar.
2Bookmark your brokerage's correct URL in advance and always reach the site through that bookmark.
3Turn on every security feature offered: multi-factor authentication at login, trading, withdrawal and when changing the withdrawal bank account, plus notification services.
4As soon as your brokerage starts offering phishing-resistant multi-factor authentication such as passkeys, set it up promptly.
5If you must use a password, never reuse it, make the string as long as possible, and avoid simple, easily guessed ones.
6Check your account frequently; if you suspect you entered details on a fake site or see a suspicious trade, contact your brokerage's inquiry desk and change your password immediately.
7Keep your PC and smartphone OS updated and your anti-malware software current. For consultation, call the FSA Financial Services User Consultation Office (weekdays 10:00–17:00, 0570-016811; 03-5251-6811 from IP phones).