Japan arrests two suspect over 81M yen crypto police scam

Japanese police have arrested two people suspected of helping a fake police fraud group steal cryptocurrency worth approximately 81 million yen from a woman in her 40s.

FNN reported on Sept. 25 that police arrested 31-year-old Saki Okayama and 38-year-old Mitsuki Minamisawa on suspicion of involvement in the scheme. Investigators believe the group operated from Cambodia and impersonated Japanese police officers to pressure victims into transferring assets.

The victim was allegedly told that her bank card had been connected to a large money laundering investigation. According to police information cited by FNN, the group claimed a fraud case had caused 600 billion yen in losses and that around 400 accounts had been used to launder funds.

Fake police allegedly demanded proof of innocence

The scheme began with a telephone call from a man claiming to represent the Osaka Prefectural Police.

FNN reported that the caller told the woman her card appeared among accounts connected with the supposed money laundering investigation. The caller then claimed she was close to being arrested and needed to “prove her innocence.”

Police allege that the false accusation eventually led the victim to transfer cryptocurrency worth around 81 million yen. The assets were valued at approximately $515,000 using the conversion cited in reports on the case.