16 Japanese Securities Firms Hit by Account Hacking; JR East Subsidiary Faces 2.3 Billion Yen Fraud, Police Investigate

The Japan Securities Dealers Association reported that 16 Japanese securities companies have been confirmed to have their customer accounts hacked, a correction from an earlier figure of 17. Hackers have been taking over online brokerage accounts to buy shares of companies in which the victims are invested. The Tokyo Metropolitan Police Department has launched an investigation into the unauthorized access and potential fraud. Meanwhile, a subsidiary of JR East has been found to have inflated labor costs in government projects, receiving approximately 2.3 billion yen improperly, with only three main employees actually working despite claims of 65. In addition, four major non-life insurance companies have announced disciplinary actions involving over 70 employees due to customer information leaks. Separately, four employees of Taisei Corporation sold their company shares before publicly disclosing construction defects in a building under development.