Science & Tech · Cybersecurity · 1 hr ago
Japanese firms offer customer payments after cyberattacks
GMO Internet will compensate users affected by a cyberattack on its foreign exchange trading service in Japan.
The company also plans to give every customer 5,000 yen as a goodwill payment.
It received a demand for money and a threat to expose company and customer information, but says it will not pay and is working with authorities.
The attack is part of a wider wave of cyberattacks disrupting online services and raising concerns about the safety of customer data.
Recent attacks have followed the disclosure of serious weaknesses in PHP, software used across much of the internet, although GMO has not linked its incident to those flaws.
Japan's government plans an emergency cybersecurity package and is setting up a team to use AI to test systems for weaknesses.
Companies may face substantial costs to strengthen their defences, while the government and businesses work to reduce the risks.
Japanese companies are offering payments to customers after cyberattacks disrupted services and exposed personal data.
GMO Internet said it would compensate customers for losses from unauthorised access to its foreign exchange trading service.
The company will also pay all customers 5,000 yen as a goodwill gesture.
Park24 said it would pay customers 3,000 yen after a personal data breach last month.
Japan plans cybersecurity measures, including AI simulations to identify weaknesses in technology systems.
- Who
- GMO Internet and Park24 are offering payments to customers. Japanese authorities are also planning cybersecurity measures.
- What
- GMO Internet will compensate customers for losses tied to unauthorised access and pay each customer 5,000 yen. Park24 will pay customers 3,000 yen after a personal data breach.
- When
- GMO’s CEO announced the payments in a blog post on Sunday. Park24’s breach occurred last month.
- Where
- Japan. The cyberattack affected GMO’s foreign exchange trading service.
- Why
- The payments follow cyberattacks and data breaches. GMO cited unauthorised access; Park24 cited a personal data breach.
This story does not have two clearly opposing sides.
Park24 said it suffered a personal data breach.
Government and company websites in Japan, Europe and elsewhere went offline after critical PHP vulnerabilities were disclosed.
Japan said it would set up a team to simulate cyberattacks using AI to identify weaknesses in technology systems.
GMO Internet CEO Masatoshi Kumagai said the company would compensate customers for losses and give all customers 5,000 yen.
Prime Minister Sanae Takaichi said the government planned to compile an emergency package of cybersecurity measures by sometime the following week.
- GMO customer payment
- 5,000 yen per customer
- Park24 customer payment
- 3,000 yen
- Cybersecurity incidents
- 723 in the year to October 20, according to TrendAI data
- Park24 expected loss
- 5.5 billion yen from responses to the breach
- GMO alternative service
- Free for six months
4 sources
What people are saying
The internet itself is now starting to break down
The internet is increasingly being transformed into a tool that malicious actors use to threaten and rob people
Now is the time for the public and private sectors to work together to protect Japan
Companies already have standard security measures in place, so if they want to strengthen them further, there is a possibility that the additional cost burden could be quite substantial