Japan Police, 9 Banks Launch Fraud Fund Tracking System, May 29

Japan’s National Police Agency and nine major banks signed an agreement on May 28 to track and freeze stolen funds from wire fraud schemes. Starting June 1, police will use an online system to trace victim money across bank accounts within hours instead of days or weeks. The system aims to recover more stolen cash and catch criminals faster.

How the New System Works

Police now submit account inquiries to banks through the National Police Agency via an online portal. Banks respond the same day with information on where stolen funds moved, instead of taking days or weeks through mail. Once police locate a victim’s money, they can request an immediate account freeze and begin investigating the criminals who withdrew the cash.

Why This Matters for Victims

Wire fraud victims in Japan lost money because criminals moved stolen funds to new accounts before police could freeze them. The old system took so long that victims rarely recovered anything. Police and banks now share account information online, cutting response time from weeks to hours. National Police Commissioner Jiro Akama said the system will enable “rapid pursuit, freezing, and recovery of victim funds.”

Which Banks Are Participating

Nine banks signed the agreement with the National Police Agency: Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, Japan Post Bank, Rakuten Bank, Resona Bank, SBI Shinsei Bank, and two others. The National Police Agency plans to add more financial institutions in the future.

Broader Crime Prevention Efforts

Beyond the bank system, local police are expanding community partnerships. Cable television companies in Yokohama signed agreements with police to broadcast fraud prevention information and alert residents to scams. Staff visiting homes now distribute police-provided fraud warning flyers to elderly residents and families.

Final Thoughts

Japan’s real-time fraud fund tracking system removes a major barrier to victim recovery. With same-day account freezes now possible, police can catch criminals faster and recover more stolen money. The system starts June 1, 2026.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.