On March 21, 2025, Rakuten Securities issued an urgent alert to its users, urging them to activate an additional login authentication feature known as two-factor authentication (2FA) to enhance their security and protect their assets.
The company reported a troubling increase in phishing scams targeting Rakuten Securities accounts, resulting in the theft of users' login IDs, passwords, and transaction authentication numbers. This alarming trend has led Rakuten Securities to take proactive measures to address the security vulnerabilities inherent in online trading.
According to the company's announcement, users can activate the login authentication service through the “My Menu” section by navigating to Security Settings and selecting Login Authentication. By doing so, they can significantly reduce the risk of having their authentication information compromised, even if they inadvertently visit a phishing site masquerading as the legitimate Rakuten Securities website.
A crucial aspect of this precaution is that while users may need their transaction authentication number during stock orders or modifications, they will never be asked for it immediately after entering their login ID and password, thereby helping protect against unauthorised access.
The uptick in phishing scams has led to a worrying rise in unauthorized trading activity. Rakuten Securities has issued additional warnings regarding fraudulent email communications that mimic the company, which are reportedly being used to mislead users into providing sensitive information.
Users have taken to social media platforms such as X (formerly Twitter) to share their experiences of unauthorized trades, claiming that securities in their accounts have been sold without their permission and that they have been forced to buy stocks in companies they do not recognize, particularly mentioning various Chinese stocks.
This situation reflects a broader concern about the vulnerability of online financial services and the importance of robust security measures. Cybercriminals are continuously evolving their tactics, making it crucial for users to remain vigilant.
In light of these developments, Rakuten Securities emphasizes that activating the two-factor authentication feature is an essential step in safeguarding personal investments and ensuring account security. Users are encouraged to act promptly and ensure their accounts are protected.
As cyber threats persist and evolve, both financial institutions and consumers must prioritize security to mitigate risks and protect valuable assets. The rising frequency of phishing scams represents not just a challenge for individual users, but also a call to action for companies like Rakuten Securities to strengthen their security protocols and better educate their users about safe online practices.
With the current landscape of online trading and investment, ensuring robust security is not just optional but a necessity. The steps taken by Rakuten Securities in response to these phishing threats highlight the importance of user participation in maintaining the security of their own financial information.
Ultimately, the power to protect personal investments lies in both the hands of the service providers and the users themselves. As Rakuten Securities encourages its customers to adopt extra security measures, it sends a clear message that proactive investment in safety is fundamental to successful trading in today’s digital financial environment.
