Forex Firms Report Customer Losses After GMO Server Breach
Japan's financial services minister, Satsuki Katayama, announced Tuesday that five foreign exchange margin trading firms reported customer damage from unauthorized access to servers leased from GMO Internet Inc. Fraudulent transactions likely followed a leak of trading account login information stored on those servers. The five Tokyo-based firms—Goldenway Japan, Oanda Japan, Ava Trade Japan, Gaitame Finest, and Dukascopy Japan—have suspended some transactions for affected customers and blocked fraudulent orders. Katayama stated there have been no reports of new bogus transactions. Following the breach, Japan's Financial Services Agency urged all forex margin trading companies nationwide, via the Financial Futures Association, to strengthen measures such as requiring password changes and enhancing transaction monitoring.