News Japan mulls 300,000-yen daily ATM withdrawal limit for elderly to combat fraud

[thomas]

Japan's National Police Agency is contemplating implementing a daily ATM withdrawal and transfer limit of 300,000 yen (around $1,990) for individuals aged 75 and older to address the rising problem of communications-based fraud. This proposal would revise the enforcement regulations of the Act on Prevention of Transfer of Criminal Proceeds. It would be the first time that ATM usage restrictions are enforced by law.

During a ministerial crime prevention meeting in June 2024, the Japanese government highlighted the necessity to limit ATM transactions for the elderly to combat "special" fraud, often carried out via phone calls. Financial institutions voluntarily impose withdrawal and transfer limits, typically ranging from 500,000 to 1,000,000 yen (approximately $3,320 to $6,630).

Fraudsters have often exploited seniors for some time by luring them to ATMs to send money, prompting the police to consider ways to reduce the losses. The 300,000 yen limit takes factors such as pension distribution amounts into account. [...] Special fraud losses in 2024 in Japan were estimated at some 72.1 billion yen (roughly $480 million), a record high and 1.6 times the amount seen the previous year, according to provisional data. Among the 20,951 victims excluding corporations, about 45% were aged 75 and older.

Japan police mull 300,000-yen daily limit on ATM use by elderly to combat fraud - The Mainichi

TOKYO -- Japan's National Police Agency is considering limits on ATM withdrawals and transfers by those aged 75 and older to 300,000 yen (around $1,99

mainichi.jp

Meanwhile, Osaka Governor Hirofumi Yoshimura announced on Thursday that he is considering prohibiting the use of mobile phones while operating ATMs to protect elderly individuals from becoming victims of special fraud.

Speaking to reporters, Yoshimura also mentioned plans to require businesses, including convenience stores, to verify the purpose behind elderly customers purchasing high-value prepaid cards—a common method used in fraudulent schemes. He intends to propose these measures to the prefectural assembly in February next year. If enacted, they would be the first of their kind in Japan, according to Yoshimura.

There were 2,656 special fraud cases in the western Japan prefecture last year, with 3,661 million yen stolen combined. Most of the victims were elderly people given instructions by perpetrators on the phone to transfer money to bank accounts.

Osaka Governor Eyes Ban on Mobile Phone Calls at ATMs

Osaka Governor Hirofumi Yoshimura said Thursday that he is considering banning people from using mobile phones while operating automated teller machines, in an effort to protect elderly people from special fraud. Speaking to reporters, Yoshimura also said he is considering obliging businesses...

sp.m.jiji.com

 

[johnnyG]

I was going to buy a camera a year and a half ago (~¥250k), went to my bank and via the ATM there (at the branch, steps away from people at the counter), tried a withdrawal but my cash card wouldn't work. I stepped over to ask at the counter and discovered there was a ¥200k daily limit on cash that I could withdraw--this for people over 70.

Could I do two withdrawals of ¥125k? Nope. Could I do something similar by going to a different ATM for the second withdrawal? Nope.

Hard cap at ¥200k. They wouldn't even give me more than that if I filled out the old style withdrawal slip along with my bankbook. I had to come back the next day to get the remainder of the cash I wanted.

**
Some history tangential to this:

"The New-Wave Yakuza": Meet the new gangs with the same old tricks

It's me, it's me--but it's not. A short history of a long-running fraud.

tokyopaladin.substack.com

 

[salyavin]

I am surprised at even the old style withdrawal slip was refused that there was no special form or something. I know in Japan rules are rules. Imagine if you wanted to buy a modest car with cash that get's annoying. In the old days I remember people making home down payments with cash if you wanted to buy a house that would be annoying or even say significant remodeling because one is not as mobile like in a wheel chair or something. Wanting or needing to move to a new mansion would be similar. Renting can be a pain Renting in Japan is hard for seniors. Money isn't the only reason "Some elderly residents are forced to move when their old apartments are rebuilt. This situation is made worse when aggressive land speculators are involved."