Comparative Consumer Law

Unauthorized withdrawal of bank deposit is growing in 2007

February 8, 2008 · Leave a Comment

The detriment by unauthorized withdrawal of bank deposit is getting worse comparing last year. It was reported by the Japanese Bankers Association in Japan on 7th February 2008. This finding was made clear by survey to the 178 banks nationwide.

Figure

The number of such scams is 181 cases and the damage amount is about 133,000,000 yen, in 2007. Each figure is increasing rather than last year: the number was 44 cases and the amount of detriment was 43,000,000 yen in 2006.

Depositor protection

According the Depositor Protection Act, only damages of deposit withdrawn by plastic cards are compensated; the detriment by other withdrawing measures, a savings passbook and internet banking, is not reimbursed at all.

The necessity of solution

However, under the increasing scam, Japanese Bankers Association may consider the repayment in the case of withdrawing deposit by the savings passbook or a internet banking voluntary.

Categories: banking · scam