Amendment of the Act on Prevention of Transfer of Criminal Proceeds: higher penalties for passbook transfers and IC chip reading when opening an accountThe rules got stricter to stop "fake identity" bank accounts
The National Police Agency has published guidance on the amendment of the Act on Prevention of Transfer of Criminal Proceeds (promulgated June 10, 2026 (Reiwa 8)). The higher penalties for the improper transfer of savings passbooks and the new remittance offense take effect on July 10, 2026. From April 1, 2027 (Reiwa 9), identity verification for opening an account and similar procedures will require reading the IC chip information of the My Number Card or similar cards.
- June 10, 2026 (Reiwa 8)Amended Act promulgated
- July 10, 2026 (Reiwa 8)Higher penalties for improper passbook transfers and new remittance offense take effect
- April 1, 2027 (Reiwa 9)IC chip reading becomes necessary for identity verification when opening accounts and similar
- A date set by Cabinet order within one year of promulgationNew measures involving fictitious-name accounts take effect
Key points
- The amendment has three main points: higher penalties for improper transfer of savings passbooks, new penalties for a "remittance offense", and new measures involving so-called "fictitious-name accounts".
- The higher penalties for passbook transfers and the new remittance offense take effect on July 10, 2026.
- The measures on fictitious-name accounts take effect on a date set by Cabinet order within one year of the promulgation date (June 10, 2026). The specific date is not stated on the pages checked.
- From April 1, 2027, reading the IC chip information of the My Number Card or similar cards will be required for identity verification when opening an account and similar procedures.
What to do in practice
- Make sure staff know not to transfer or lend passbooks or cash cards to others, and review account management rules.
- Prepare the My Number Card or similar card used for identity verification, in view of account openings from April 2027.
Bad people use bank passbooks handed over by others for crimes, such as when someone gives away a passbook. To stop this, the punishments have become heavier. From next year, when you open an account, your identity will be checked by reading the IC chip in your My Number Card.
- 1. ApplySay you want to open an account
- 2. Prepare the cardUse a My Number Card or similar
- 3. IC chip readingA machine reads the information inside the card
- 4. VerifiedThey confirm that you are really you
Points
- Giving your own passbook to another person now has a stricter punishment (from July 10, 2026).
- A new rule is also coming against crimes that use accounts opened in other people's names.
- From April 1, 2027, when you open an account, the IC chip in your card will be read to check who you are.
What the words mean
- Identity verification
- Checking with an ID or similar that a person really is who they say they are.
- IC chip
- A small part inside a card that stores information.
- National Police Agency: National Police Agency: Japan Financial Intelligence Center (JAFIC)
- National Police Agency: National Police Agency: Amendment of the Act on Prevention of Transfer of Criminal Proceeds
This article summarizes and explains materials published by government agencies and is not advice on any individual case. Rules can change, so for actual procedures and decisions always check the latest original materials and consult professionals such as tax accountants or labor and social security attorneys. English, Simplified Chinese and Traditional Chinese versions are translations prepared from the Japanese articles for convenience. If anything differs, the Japanese text and the original source take precedence.