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Japan's Sumitomo Mitsui Trust Bank Enhances Security Against Account Takeover Fraud
First seen 19 Nov 2025, 00:16 UTC
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Sumitomo Mitsui Trust Bank (SuMiTB) has partnered with SCSK Corporation and OneSpan to implement a cloud-based FIDO authentication solution to enhance mobile banking security. This initiative addresses the rising account takeover fraud in Japan, which has led to losses of approximately ¥690 billion (US$4.44 billion) in 2025.
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