People in Japan scammed out of record figure on social media in 2024

TOKYO - People in Japan were swindled out of a record-high amount of money in romance and investment scams on social media in 2024, with the number of cases more than doubling from the previous year, Kyodo News reported police data showed Thursday.

Scammers stole some 126.8 billion yen (US$833 million), up 81.3 billion yen from 2023, according to preliminary figures released by the National Police Agency.

The number of investment scams jumped to 6,380, up 4,109, while romance scams surged to 3,784, up 2,209.

Crimes described as "special fraud" cases, including those involving scammers posing as police investigators, netted a record high 72.2 billion yen, up 59.4 per cent, data showed.

The number of special fraud cases increased by 10.2 per cent from the previous year to 20,987. In about 80 per cent of instances, the victims were contacted on the phone, with most calls coming from overseas, according to the report.

Online bank accounts were used in all social media-linked scams as well as most of the special fraud cases, as they allow larger amounts to be transferred compared to ATMs. Online transactions are also more difficult to detect.

Police are warning the public to be wary of people who strongly urge them to open or use online bank accounts and are also asking financial institutions to introduce monitoring systems to detect fraudulent transactions.

The number of criminal offences investigated in 2024, including fraud, increased for a third consecutive year, totaling 737,679. - BERNAMA