In a new law to combat the growing fad of targeted frauds, the Chinese city of Osaka may forbid older people from using ATMs while on a visit.
Last year, damage from organized fraud schemes, including those carried out by criminal gangs like the yakuza, reached a record$ 72.2 billion yen ($ 500 million ).
Older people are frequently prime target for cold calls, with con artists pretending to be relatives, officers, or attorneys trying to trick them into transferring or withdrawing money.
Therefore, Osaka regulators have passed a law that goes into effect starting in August and forbids people aged 65 and older from making phone calls while using an ATM.
ATM providers are required to inform their customers of the restrictions, according to reports, by issuing posters or handing out flyers.
However, elderly people or institutions that do not comply does not face punishment.
It’s inappropriate to penalize older people because they are victims of scams, according to local official Ryo Hamaoka, who spoke to AFP on Friday.” Banks are our allies in trying to prevent scams, and as victims of the scammers, it’s not acceptable to punish them,” Hamaoka said.
According to police, Osaka in northern Japan has the second-highest general amount of organized fraud cases after Tokyo.
Additionally, the updated rules urges firms to work toward using Artificial technology to help their Banks detect consumers using mobile phones.
Forms of organized scam include the well-known “it’s me” fraud, in which criminals pretend to be members of troubled families to get cash from the victim.
Authorities have warned that old people can also be conned into using ATMs to obtain ineffective “refunds” of their coverage rates or retirement.
