FOREX.com Japan Alerts Users to Cyber Incident

The Japanese unit of Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term.com has suffered a cyber incident in which client information might have been accessed without authorisation back in April of this year, the company announced on Sunday.

In particular, the Japanese business of FOREX.com, which is the retail foreign exchange (forex) brand of Gain Capital Holdings Inc (NYSE:GCAP), confirmed yesterday that it has experienced a cyber incident, or rather a hack, which may have caused unauthorised access to client personal data.

“On April 14, 2020, it was discovered that our network may have been accessed by an unauthorized third party and your personal data viewed,” the company said in a statement [translated].

According to the statement provided by the online Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term provider the company said in order to protect the personal data of its clients and resolve any problems, it immediately blocked access to the systems involved.

Following on from this, the company then launched an “in-depth investigation” and notified the relevant parties, including the authorities, as soon as the problem was discovered, the statement published yesterday said.

FOREX.com advises users to change passwords

The Japanese company said that it will continue to investigate the issue and will let its users know when more information becomes available. In the meantime, FOREX.com Japan advises its users to change their transaction password.

“We deeply apologize for causing the great inconvenience and concern. We take this situation very seriously and promise to our customers that we will continue to implement our data security measures. We value our continued relationships with our valued customers, so if you have any questions or need assistance, please feel free to contact us,” FOREX.com Japan said on Sunday.

In the update provided by the company on Sunday, it is not clear exactly the extent of the damage caused by the incident, if any at all.