Japan Brokers Seek to Identify Hackers After Fraud Surges

Japan’s brokerage industry aims to identify accounts owned by phishing scammers, after fraudulent trades worth more than $4 billion rattled the nation’s stock market.

A Japan Securities Dealers Association panel is looking to start discussions on whether and how member brokers can identify and act against offenders’ accounts at its upcoming annual meeting, said people familiar with the matter, asking not to be named because the issue is private. The JSDA’s Internet Brokers Council, which comprises about 30 of the nation’s major brokers, is weighing inviting officials from the Tokyo Stock Exchange and police to hear how they are planning ...