Cyber Crime Incidences in Japan Highest Since Records Began
by
Colin Firth
69,977 reports of cyber crime reported in Japan in the January-June period.
With more people logging into digital wallets and currencies for Payments and investment solution globally, hackers are steadily targeting the system through organised cyber crime. In a report published in the Nikkei Asian Review, in the first six months of 2017 Japan saw a record rise in crime involving digital money and investment scams, with losses amounting to ¥333 million yen ($3.05 million).
The National Police Agency of Japan received total 69,977 reports of cyber crimes in the January-June period, up 4.9% from a year earlier, which is highest since data started being recorded. Losses in digital currency was reported at ¥ 59.2 million ($542,000) -13 cases involving Bitcoin, 11 cases involving Ripple and 2 cases involving Ethereum .
There were 36,729 cases of internet scams, which is more than half of the total reported cases. Unauthorised computer access and virus attacks have also surged 50 percent from a year earlier, to 6,848 cases. And reports have also surfaced of devices being targeted through IOT technology.
Active surveillance by the National Police Agency has been at least partially successful in stemming such crimes. It detected an average of 2,008 hacks per day, a decline from the record high of 2259 in the second half of 2016. There were 214 cases of illegal money transfers using internet banking, a drop from 645 cases the year before. The total value of the financial losses also declined 40 percent from ¥564 million ($5.18 million). Effective management of passwords and regular security updates on personal devices can help to prevent hacking.
Finance Magnates has been regularly reporting incidences of cyber crime and investment fraud reported by different market watchdogs around the world. Earlier in July, we reported an investment fraud via ASIC.
With more people logging into digital wallets and currencies for Payments and investment solution globally, hackers are steadily targeting the system through organised cyber crime. In a report published in the Nikkei Asian Review, in the first six months of 2017 Japan saw a record rise in crime involving digital money and investment scams, with losses amounting to ¥333 million yen ($3.05 million).
The National Police Agency of Japan received total 69,977 reports of cyber crimes in the January-June period, up 4.9% from a year earlier, which is highest since data started being recorded. Losses in digital currency was reported at ¥ 59.2 million ($542,000) -13 cases involving Bitcoin, 11 cases involving Ripple and 2 cases involving Ethereum .
There were 36,729 cases of internet scams, which is more than half of the total reported cases. Unauthorised computer access and virus attacks have also surged 50 percent from a year earlier, to 6,848 cases. And reports have also surfaced of devices being targeted through IOT technology.
Active surveillance by the National Police Agency has been at least partially successful in stemming such crimes. It detected an average of 2,008 hacks per day, a decline from the record high of 2259 in the second half of 2016. There were 214 cases of illegal money transfers using internet banking, a drop from 645 cases the year before. The total value of the financial losses also declined 40 percent from ¥564 million ($5.18 million). Effective management of passwords and regular security updates on personal devices can help to prevent hacking.
Finance Magnates has been regularly reporting incidences of cyber crime and investment fraud reported by different market watchdogs around the world. Earlier in July, we reported an investment fraud via ASIC.
Interactive Brokers Expands Offerings with Daily Options on French Stocks
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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