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Three SNS Investment Scams Defraud Elderly of Over ¥600 Million, Police Confirm

Banks must monitor repeated high-value transfers following record fraud losses in Niigata alongside recent schemes in Fukuoka, Shiga.

Overview

  • In Niigata Prefecture, a woman in her 70s lost ¥171.35 million in an SNS-based crypto investment scam between February and June, marking the highest local loss on record.
  • In Fukuoka City, a man in his 60s transferred ¥165.5 million across 20 transactions from June 9 to July 1 after being lured by promises of “carefully selected blue-chip stocks.”
  • An 82-year-old in Otsu City wired ¥275 million to 23 internet accounts via 36 LINE payments by July 24 and had already fallen victim to a similar ¥100 million scam earlier this year.
  • Suspicious high-value transfers in Fukuoka triggered a bank alert that led police to uncover the fraud networks and launch investigations.
  • Combined losses now top ¥600 million as authorities investigate organized schemes and caution elderly residents against unsolicited SNS and LINE investment offers.