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Japan's Line, NTT share smartphone payment fraud data

Response to over eightfold increase in reported phishing cases since 2019

Japanese financial service companies are pooling crime data after phishing frauds on smartphone-based payment systems jumped fourfold in 2020 and doubled again in 2021 to reach 460,000. (Source photo by Reuters)

TOKYO -- Six companies, including NTT Docomo and Line Pay, are launching an information-sharing initiative to prevent fraud on smartphone-based payment services, Nikkei has learned.

The move comes amid a surge in phishing, which fraudsters use to steal IDs, passwords and account numbers by directing users to fake websites. According to the Council of Anti-Phishing Japan, the number of reported cases jumped to over 224,000 in 2020, four times the number in the previous year, and reached 460,000 in the January-November period of 2021.

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