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Japan's NTT Docomo Admits Thieves Breeched Its e-Money Service

Published by Slashdot on Sun, 13 Sep 2020

Long-time Slashdot reader PuceBaboon tipped us off to a story in Japan Times:About 18 million yen ($169,563) has been stolen from bank accounts linked to NTT Docomo Inc.'s e-money service, the company said Thursday, prompting police to begin an investigation into a suspected scam. As of Thursday, 66 cases of improper withdrawals from bank accounts linked to the mobile carrier's e-money service had been confirmed, NTT Docomo Vice President Seiji Maruyama told a news conference in Tokyo. "We apologize to the victims" of the improper withdrawals, Maruyama said at the news conference, which was also attended by other company executives. Maruyama acknowledged that checks on user identification had been "insufficient." NTT Docomo, which has stopped allowing customers to create new links between its e-money service and accounts at 35 partner banks, has said it will try to compensate victims for the full amounts stolen through negotiations with the banks.... In May last year, there were similar cases of improper withdrawals from Resona Bank accounts linked to NTT Docomo's e-money service. Docomo acknowledged it had failed to boost user identity checks to prevent a recurrence... In the recent cases, third parties are believed to have obtained the victims' bank account numbers and passwords, and used them to register with the e-money service to transfer funds.Read more of this story at Slashdot.
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