Japan's Credit Card Fraud Hits Record ¥55.5 Billion, Including ¥9.9 Billion from Aeon Card Amid Phishing Scams

Japan's credit card fraud has reached a record high, with illicit transactions totaling ¥55.5 billion (approximately $500 million). This surge in fraud is attributed to phishing scams that lure victims into providing personal information through emails and SMS, often disguised as communications from financial institutions. Aeon Financial Service reported that its Aeon Card alone accounted for ¥9.9 billion of these fraudulent transactions, exploiting an offline payment feature. The rise in such scams may be exacerbated by the use of generative AI to create convincing phishing messages.