Overview

• On July 25, SBI Securities, Rakuten Securities and Matsui Securities announced they will reimburse 50 percent of customer losses from unauthorized trades in compromised accounts
• The firms will also pay a flat ¥10,000 condolence sum and refund all trading fees generated by the fraudulent transactions
• Each broker stated its own systems were not breached, attributing the hacks to phishing sites and malware, and urged clients to adopt stronger multi-factor authentication
• In contrast, traditional brokers including Nomura, Daiwa, SMBC Nikko, Mizuho and MUFG Morgan Stanley continue to restore compromised accounts in full under their existing policies
• The Financial Services Agency is closely monitoring both compensation schemes and industry-wide security measures as incidents topped 7,000 cases in the first half of 2025