Rakuten Securities’ Response to the Surge in Unauthorized Trading Incidents
Lost a fortune due to unauthorized trading of Chinese stocks
Reports of unauthorized stock sales on social media, with “Chinese stocks being purchased,” are spreading.
“I was a victim of unauthorized access to Rakuten Securities, where money was automatically deposited from Rakuten Bank, and Chinese stocks were bought without my consent, leading to a massive loss.”
“My money, which I had saved in Rakuten Bank, was withdrawn without permission, and Hong Kong stocks were bought through Rakuten Securities.”
Stocks held in Rakuten Securities were sold without permission, and unknown Chinese stocks were purchased with the proceeds. Alternatively, money from Rakuten Bank was taken, and Hong Kong stocks were bought—reports of these unsettling incidents continue to surface.
The culprits may have targeted Japan’s March 20th holiday:
“I was attacked at 3:00 PM on the 19th,” some victims reported.
“On the 20th, some tried consulting the police but were told that it would be difficult to make it an official case,'” one person noted.
The concentration of attacks just before a holiday may be aimed at delaying responses and investigations.
Rakuten Securities issued a notice on its website:
“Phishing fraud leading to unauthorized trades is widespread. Please change your trading PIN and set up two-factor authentication.”
However, it does not seem that the victims had significant security lapses.
“Similar tactics have been used in refund scams, where authorities close on weekends, delaying the discovery of the fraud. A user who conducted an investigation suggested the possibility of phishing sites accessed via email, where login and trading PIN details may have been entered.
Nonetheless, reports of issues with Rakuten Securities and Rakuten Bank point to potential security concerns. Many users are furious at being met with poor responses from Rakuten Securities. This situation could escalate into a class-action lawsuit,” said a TV news reporter.
