Japan to Oblige Brokerages to Enhance Account Security

   Tokyo, July 15 (Jiji Press)--Japan's Financial Services Agency will revise its supervision guidelines to oblige brokerage firms to enhance the security of their customers' accounts, according to its revision plan released on Tuesday.
   The revision comes after a series of account hacking cases. The revision plan will be formally adopted after a public comment period.
   The revised guidelines will focus on preventing phishing, which leads customers to fake websites. Brokerage firms will be urged to introduce multi-factor authentication, which requires account holders to use not only their account name and password but also biometric identification, such as fingerprint or face recognition, when they log in to their accounts.
   If brokerage firms do not introduce such stricter authentication immediately, they will be required to notify their customers of their introduction schedules.
   The revised guidelines will also oblige brokerage firms to promptly notify users of account hacking and freeze accounts in the event of repeated authentication failures.

(2025/07/15-17:22)

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