Financial Crime World

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Most Common Types of Financial Fraud in Japan See Sharp Increase, According to New Data

Report Reveals Significant Spike in Specialized Fraud Cases

According to provisional data released by the National Police Agency, the number of reported specialized fraud cases in Japan has seen a significant increase for the first time in four years. In 2021, a total of 14,461 cases were reported, marking a 6.7% increase from the previous year.

Financial Losses Reach ¥27.8 Billion

Financial losses resulting from these scams totaled ¥27.8 billion, a decrease of ¥710 million compared to the previous year. However, the National Police Agency has warned that the situation remains serious, with high levels of financial loss, particularly among the elderly.

Victims Concentrated in Major Metropolitan Areas

The majority of victims of these scams are concentrated in major metropolitan areas, with Tokyo, Osaka Prefecture, Kanagawa Prefecture, Chiba Prefecture, Saitama Prefecture, Aichi Prefecture, and Hyōgo Prefecture accounting for around 70% of all cases.

Most Common Types of Scams

  • Refund Fraud: The most common type of scam, with 4,001 reported cases. This represents a significant increase from the previous year’s total of 1,804 cases.
  • “It’s Me, It’s Me” Scams: Where fraudsters impersonate family members
  • Cash Card Scams: Where fraudsters obtain cash cards from elderly individuals and replace them with fake cards

National Police Agency Warns Public to Remain Vigilant

The National Police Agency has cautioned the public to remain vigilant against these types of scams, particularly among the elderly. They have urged individuals to verify the authenticity of any transactions or offers before transferring money, and to be wary of unsolicited calls or emails that ask for personal or financial information.

Key Statistics

  • Daily amount of financial losses from specialized fraud: ¥76.2 million (decreased by ¥1.7 million)
  • Average loss per case: ¥2.0 million (decreased by ¥203,000)

These figures highlight the importance of being aware of and cautious against these types of financial fraud. By taking steps to protect themselves, individuals can reduce their risk of falling victim to these scams.