News Column

Chinese group suspected in 600 mil. yen illicit cash transfer

June 10, 2014



Police said Wednesday they have arrested a group of 13 Chinese people they suspect of involvement in fraudulent cash transfers from Internet bank accounts that may total a record high 600 million yen.

The group includes Lin Xiumei, a 42-year-old woman arrested on suspicion of receiving 760,000 yen that had been illicitly withdrawn from an automated teller machine by another member of the group in Tokyo on Jan. 20. The police believe she knew the money was the proceeds of a crime, but she has denied the allegation.

The police believe the group is likely to have been involved in many more illicit transfers from Internet bank accounts, possibly totaling 600 million yen, of which 120 million yen has already been withdrawn.

Lin is said to have been collecting cash that has been extracted from ATMs in Japan by other members. She allegedly operated an underground bank and was sending money to China.

Internet banking has become popular as users can transfer money without actually going to banks or ATMs. But illicitly transferred cash is on the rise, with the sum reaching 1.4 billion yen as of May, according to the National Police Agency.



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Source: Japan Economic Newswire


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