Eight major banks have signed an agreement with the National Police Agency to share information on accounts with suspicious activity as part of an ongoing fight against special fraud schemes.
Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corp., Sumitomo Mitsui Trust Bank and four banks under Resona Holdings entered into the agreement on Wednesday. Earlier this year, Japan Post Bank and PayPay Bank also signed a similar deal.
In special fraud cases, perpetrators typically convince victims to raise their withdrawal limits and make repeated transactions to transfer out large sums of money.
