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Japan Times
5 days ago
- Business
- Japan Times
Major banks team up with police to combat special fraud
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. Banks have their own monitoring system that allows them to flag accounts with suspicious activity, such as inward or outward transfers involving unusually large sums. Under the new agreement, the banks will share information on the accounts they have flagged to the NPA and prefectural police departments so they can take swift action. The police will warn individuals who appear to be victims of fraud while they make efforts to identify and apprehend the fraudsters involved in each of the cases. In the past, banks first shared information on accounts flagged for suspicious activity with the Financial Services Agency, which then relayed it to the police. A direct collaboration between financial institutions and the police allows for a swifter response in countering special fraud schemes. Regional banks were the first to enter into such agreements with the police, ahead of major banks. So far, the effort appears to be bearing fruit: Nearly 70% of 1,866 accounts reported to the police for suspicious activity between January and May turned out to be those belonging to victims of fraud, according to Nikkei. Among those reported, 45 accounts were determined to have been used by fraud syndicates as well. These developments come at a time when special fraud cases are becoming increasingly common in Japan. According to the NPA, losses attributed to special fraud cases in 2024 amounted to ¥71.88 billion ($500 million), a record high. Cases included those in which scammers duped victims into paying large sums of money by posing as representatives of government agencies via phone calls or letters. Fraud conducted through social media — including romance scams, in which swindlers prey on victims online by gaining their affection and trust before convincing them to transmit large sums of money — are also on the rise. Losses attributed to such cases totaled ¥127.19 billion last year.
Arab News
28-05-2025
- Business
- Arab News
EU proposes Black Sea maritime security hub
BRUSSELS: The European Union on Wednesday proposed creating a hub to boost security in the Black Sea by gathering information from multiple countries to monitor the strategically important region more closely. The move comes as European officials warn about a continued threat from Russia and as concerns deepen across the EU about risks to undersea infrastructure. The hub would be set up in the short-term and 'with a sense of priority due to the Russian war of aggression,' an EU document said. The hub will use contributions from Black Sea and EU countries and 'enhance maritime situational awareness and information sharing on the Black Sea, real-time monitoring from space to seabed, and early warning,' the document said. The proposal from the European Commission and the bloc's foreign policy chief Kaja Kallas notes that the hub would include monitoring of submarine cables, offshore installations and gas and wind energy operations. It would use underwater sensors, remotely piloted vessels and surveillance drones, it added. Kallas told reporters that the hub could also help monitor the maritime element of a future peace agreement between Russia and Ukraine.
Al Arabiya
28-05-2025
- General
- Al Arabiya
EU proposes creating maritime security hub in Black Sea
The European Union on Wednesday proposed creating a hub to boost security in the Black Sea by gathering information from multiple countries to monitor the strategically important region more closely. The move comes as European officials warn about a continued threat from Russia and as concerns deepen across the EU about risks to undersea infrastructure. The hub would be set up in the short-term and 'with a sense of priority due to the Russian war of aggression,' an EU document said. The hub will use contributions from Black Sea and EU countries and 'enhance maritime situational awareness and information sharing on the Black Sea, real-time monitoring from space to seabed, and early warning', the document said. The proposal from the European Commission and the bloc's foreign policy chief Kaja Kallas notes that the hub would include monitoring of submarine cables, offshore installations and gas and wind energy operations. It would use underwater sensors, remotely piloted vessels and surveillance drones, it added. Kallas told reporters that the hub could also help monitor the maritime element of a future peace agreement between Russia and Ukraine.
Khaleej Times
28-05-2025
- Business
- Khaleej Times
European Union proposes Black Sea maritime security hub
The European Union on Wednesday proposed creating a hub to boost security in the Black Sea by gathering information from multiple countries to monitor the strategically important region more closely. The move comes as European officials warn about a continued threat from Russia and as concerns deepen across the EU about risks to undersea infrastructure. The hub would be set up in the short-term and "with a sense of priority due to the Russian war of aggression," an EU document said. The hub will use contributions from Black Sea and EU countries and "enhance maritime situational awareness and information sharing on the Black Sea, real-time monitoring from space to seabed, and early warning", the document said. The proposal from the European Commission and the bloc's foreign policy chief Kaja Kallas notes that the hub would include monitoring of submarine cables, offshore installations and gas and wind energy operations. It would use underwater sensors, remotely piloted vessels and surveillance drones, it added. Kallas told reporters that the hub could also help monitor the maritime element of a future peace agreement between Russia and Ukraine.
Reuters
28-05-2025
- Business
- Reuters
EU proposes Black Sea maritime security hub
BRUSSELS, May 28 (Reuters) - The European Union on Wednesday proposed creating a hub to boost security in the Black Sea by gathering information from multiple countries to monitor the strategically important region more closely. The move comes as European officials warn about a continued threat from Russia and as concerns deepen across the EU about risks to undersea infrastructure. The hub would be set up in the short-term and "with a sense of priority due to the Russian war of aggression," an EU document said. The hub will use contributions from Black Sea and EU countries and "enhance maritime situational awareness and information sharing on the Black Sea, real-time monitoring from space to seabed, and early warning", the document said. The proposal from the European Commission and the bloc's foreign policy chief Kaja Kallas notes that the hub would include monitoring of submarine cables, offshore installations and gas and wind energy operations. It would use underwater sensors, remotely piloted vessels and surveillance drones, it added. Kallas told reporters that the hub could also help monitor the maritime element of a future peace agreement between Russia and Ukraine.
