The Sankei Shimbun 
Signs with MUFJ (Mitsubishi-UFJ Bank) logos in Chuo-ku, Tokyo.
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On April 8, Japan's Financial Services Agency (FSA) revealed that some banks in Japan have started blocking withdrawals from bank accounts of foreign nationals whose period of stay has expired.
The FSA did not name the specific financial institutions involved. However, Kyodo News confirmed that at least Mitsubishi UFJ Bank and Mizuho Bank have implemented this policy.
Fraud Prevention
The move comes in response to incidents where bank accounts held by foreign residents were illegally transferred and used in special fraud schemes.
In December 2024, the National Police Agency asked all financial institutions to implement countermeasures. After necessary system upgrades, banks are expected to gradually introduce the new measures.
Foreign nationals are required to notify their bank if they extend their stay in Japan due to a change in residency status. However, this requirement has not been widely followed or recognized. There are concerns that foreign nationals legally residing in Japan could have their bank accounts frozen if they fail to notify their bank of an extended stay.
As part of its "Comprehensive Measures to Protect Citizens from Fraud," announced in 2024, the government outlined a policy to strengthen bank account management based on residents' length of stay.
In line with this, the National Police Agency, in consultation with the FSA and other agencies, issued a directive requesting that financial institutions take appropriate actions.
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Author: The Sankei Shimbun
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