Latest news with #MyNumber
Japan Times
a day ago
- Business
- Japan Times
Japan to require IC chip ID verification for online bank accounts in 2027
Japan will require banks and credit card companies to use IC chip-based identity verification for non-face-to-face account openings starting in April 2027, under a revised rule aimed at curbing fraud, the National Police Agency (NPA) said Thursday. The change to the enforcement of the Act on Prevention of Transfer of Criminal Proceeds will make it mandatory for financial institutions to confirm customers' identities via IC chips embedded in My Number identity cards or driver's licenses. Submitting images or photocopies of ID documents — currently allowed in online or mail-based applications — will be prohibited due to the growing difficulty of detecting forgeries, the agency said. The new rule is designed to prevent fraudulent accounts — often used in schemes known as special fraud, which includes bank transfer scams and telephone banking fraud — from being opened under stolen identities. Under the existing framework, financial institutions are obligated to verify a customer's identity when opening an account. In online settings, this has typically involved sending images of ID documents via smartphone or mailing photocopies — methods increasingly vulnerable to advanced counterfeiting techniques. The revised regulations designate IC chip scanning as the default method of digital verification. For those without a My Number card or driver's license, alternative documentation such as original copies of residency certificates or tax documents — which are harder to falsify — can still be submitted by mail. Authorities have set the implementation date two years out to allow sufficient time for system upgrades on the part of financial service providers. The NPA published the draft revision in February and received 83 public comments. It is also considering requiring the use of IC chip data for in-person identity checks in the future. Translated by The Japan Times
Yomiuri Shimbun
14-06-2025
- Business
- Yomiuri Shimbun
Japan's LDP Mulls ¥20,000 Cash Handout Per Person, with ¥40,000 for Low-Income Households, Children
The Yomiuri Shimbun Prime Minister Shigeru Ishiba speaks at a meeting at the Prime Minister's Office on Friday. Prime Minister Shigeru Ishiba on Friday instructed senior Liberal Democratic Party members to consider incorporating a provision of a ¥20,000 cash handout per person in the party's campaign pledges for the House of Councillors election, as part of measures to combat rising prices. Ishiba, who is also president of the LDP, said that another ¥20,000 will be added on top of that per child or adult in resident tax-exempt households, bringing the envisaged cash benefits to ¥40,000 for them. Ishiba also instructed senior party members to use individual bank accounts linked to My Number identification cards in order to swiftly distribute the cash handouts, as well as reduce the administrative burden on local governments. 'This is not a pork-barrel measure, but rather cash payments prioritized for those who are truly in need,' Ishiba said to reporters at the Prime Minister's Office. The budget required for the handouts would be 'roughly estimated to be in the mid-¥3 trillion range,' Ishiba said. The portion of tax revenue that exceeded projections is expected to be used as a source of payments, but Ishiba only said: 'We won't rely on deficit-covering government bonds. We will make decisions with the priority of definitely not worsening the fiscal situation.' Referring to the reduction of consumption tax proposed by opposition parties, Ishiba said, 'It will benefit high-income earners, so it is not appropriate.' The LDP had previously sought a ¥40,000 cash handout per person, but the Finance Ministry argued that it would be difficult to secure sufficient funds from tax revenue that exceeded projections. After Ishiba and party executives discussed the matter Friday, the LDP decided on setting ¥20,000 per person as the base amount for the envisaged handouts.
Yomiuri Shimbun
13-06-2025
- Business
- Yomiuri Shimbun
LDP Mulls Adding ¥40,000 Cash Handouts to Campaign Pledges; Party Officials Call It Way to Deal with High Prices
Yomiuri Shimbun file photo The Liberal Democratic Party's headquarters is seen in Tokyo. The Liberal Democratic Party is considering providing ¥40,000 in cash per person as a measure to deal with rising prices, according to LDP senior officials. Within the ruling party, a proposal has also emerged to increase the benefit amount for households that are exempt from resident tax, the officials said. With a view to including such cash handouts in its campaign pledges for this summer's House of Councillors election, the party is accelerating work to design a specific system, including how to provide the benefits. The LDP intends to determine the amount of cash handouts based on a tax revenue surplus in fiscal 2024. To provide the benefits promptly, the LDP is considering using accounts dedicated to receiving public money, in which recipients' My Number personal identification cards are linked to their savings accounts. The party aims to carry out the cash handouts by the end of this year by formulating a supplementary budget in an extraordinary Diet session after the upper house election. On Thursday, LDP Policy Research Council Chairperson Itsunori Onodera met with Prime Minister Shigeru Ishiba, LDP Secretary General Hiroshi Moriyama and others to discuss the amount of the benefits and when to implement the measure, among other matters.
Asahi Shimbun
12-06-2025
- Business
- Asahi Shimbun
Ruling bloc includes 20,000 yen handouts in election pledge
Prime Minister Shigeru Ishiba, center, meets with his Cabinet ministers at his office in Tokyo on June 10. (Takeshi Iwashita) The ruling Liberal Democratic Party and its coalition partner, Komeito, have finalized a plan to provide cash to the public to ease the ongoing inflation burden, party officials said. Under the proposal, every resident in Japan will receive a 20,000 yen ($138) cash handout, regardless of income level. In addition, lower-income households that are exempt from the residential tax will receive an additional 20,000 yen. The coalition aims to implement the measure by the end of the year, positioning it as a key policy pledge for the Upper House election in July. The move is expected to be funded through a larger-than-expected surplus in tax revenue for the fiscal year that ended in March. To finance the payouts, the government plans to draft a supplementary budget after the Upper House election. This latest initiative revises an earlier plan from April to provide 50,000 yen per person, which was shelved amid public backlash for being an unsustainable populist policy. By pledging to redistribute excess tax revenues and providing additional aid to low-income groups, the government hopes to garner broader public support. The decision comes as opposition parties ramp up calls for a reduction in the consumption tax to alleviate household burdens. However, LDP leaders have rejected the idea, citing concerns that it could undermine the country's social security system, which relies on the consumption tax of up to 10 percent. The payout plan resurfaced as the ruling bloc sought an alternative economic relief policy ahead of the crucial summer election. To ensure speedy distribution, the payments will primarily be made through bank accounts associated with the government My Number personal identification system. Alternative delivery methods will be used for residents without linked accounts. Additional payments for tax-exempt households will be administered through local governments. Without income-based restrictions, the proposal may face criticism for extending benefits to high-income earners. Officials argue that they opted against means testing in favor of simplicity and swift implementation. (This article was written by Haruka Suzuki and Shinkai Kawabe.)
NHK
10-06-2025
- Business
- NHK
Privacy panel received record number of data leak reports in FY2024
The government's commission on protecting personal information says it received a record number of reports involving personal data leaks and losses by private businesses across Japan in the last fiscal year. The government on Tuesday approved at a Cabinet meeting an annual report compiled by the Personal Information Protection Commission. The commission said it was told of 19,056 such cases in fiscal 2024 ending in March. That's the most since it began the survey in fiscal 2017. The cases include that of a list vendor fined for buying illegally leaked personal information that was part of a massive data leak by a former temp worker at a subsidiary of telecom firm NTT West. The leak had been carried out in 2023. Another case involved issuance of an official certificate to the wrong person at a convenience store in Takamatsu City, Kagawa Prefecture, due to an error linked to the My Number national ID system. The commission said it issued a recommendation based on a personal information protection law and provided 395 pieces of guidance or advice. The report also said the number of personal data leaks and losses related to the My Number system during the period was 2,052, up sixfold from the previous year. The commission said it believes a single hacking case in a cyberattack led to numerous other leaks, resulting in the soaring number of cases.
