Criminal investigators from around the world gathered in Tokyo on Wednesday to discuss and share measures to fight fraud, which has become increasingly sophisticated with the widespread use of social media.
The first-ever “Global Fraud Meeting” was attended by investigators from about 20 countries and institutions.
They include the United States, where damage from investment-related fraud totaled about 4.9 billion dollars last year, the UK and Australia, which have seen a surge in “romance scams.” Victims are often defrauded of money after fake marriage proposals or being made to believe they’re in fictitious relationships.
The Commissioner General of Japan’s National Police Agency, Tsuyuki Yasuhiro, explained how investment fraud cases linked to false online ads have become rampant in his country.
The police chief noted that today, fraud can be committed from anywhere in the world with a single smartphone. Tsuyuki said it’s a tough battle, but every police officer must keep their head up and he is certain they can conquer the problem if they work together.
An official from Interpol reported on the numbers and methods of fraud in various countries.
The official noted that fraudsters are using advanced technologies such as AI-generated fake video and audio, and also using crypto-assets for money laundering.
The National Police Agency says damage from investment fraud and romance scams in Japan totaled over 550 million dollars this year between January and July. That was an increase of about 426 million dollars from the same period last year.
Damage from cases using older methods of defrauding strangers on the phone totaled 200 million dollars, up about 34 million dollars from last year.