A bill aimed at helping victims of telephone fraud recoup their financial losses is on the Lower House floor. Although the bill, submitted by lawmakers, is well-intended, it is hoped that improvements in the bill will better help victims prevent their money from falling into fraudsters’ hands.

In a typical case, a fraudster calls a target to persuade him or her to transfer money to the caller’s bank account. The caller often pretends to be a relative in trouble and in need of quick cash. These so-called “It’s me” scams are so rampant that people continue to lose as much as ¥10 million or more. Some fraudsters pose as officials of public organizations, such as a tax office or the Social Insurance Agency.

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