Some banks have started freezing withdrawals from accounts held by foreign nationals whose visas or residential statuses have expired as part of a government initiative to combat scams and fraud, the Financial Services Agency (FSA) said Wednesday.
The move comes after the National Police Agency requested in December that financial institutions implement measures to prevent those bank accounts from being used for receiving funds from scam victims or money laundering.
Although financial institutions require foreign nationals living in Japan to notify them of residency changes or extensions, it may not be widely known among foreign communities.
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