Accounts affected by unauthorised access to the Trader online trading platform have now been restored to their previous state. The trading service can now be accessed through another login channel. Mandatum’s own services are operating normally.
Unusual disruptions were detected on the Trader platform on the evening of Tuesday, 3 November. The disruptions were caused by unauthorised access to the system through Trader’s login channel. Unauthorised buy and sell orders were placed on the accounts of approximately a few dozen clients that evening, and unauthorised logins were also detected on other accounts. This access to Trader accounts was blocked the same evening and, as a precaution, login through the usual channel was disabled for all clients. Trader’s customer service team contacted the holders of accounts on which unauthorised trades had been made, and all identified accounts have now been restored to their state prior to these trades. Clients will not incur any losses as a result of these trades.
For the time being, the trading service can be accessed through another login channel. Instructions have been sent to clients by email.
We are continuing our detailed investigation into the matter and apologise for the disruption caused to Trader clients. Mandatum is taking every possible measure, with clients’ best interests as its foremost priority.
The disruptions affecting Trader have no impact on Mandatum’s other client services or systems. Mandatum’s asset and wealth management, reward and compensation, and insurance services are operating normally and remain safe to use.
Trader is a trading service provided by the Danish Saxo Bank A/S. Mandatum acts as a tied agent of Saxo Bank and is responsible for Trader’s Finnish-language customer service, customer identification and the marketing of the service. Saxo Bank is responsible for trading, regulatory reporting and the custody of securities. Trader clients enter into a customer relationship with Saxo Bank.
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