Japan to Steps Up Fight against Investment Fraud with AI
Tokyo, Sept. 1 (Jiji Press)--Japan's Consumer Affairs Agency said Tuesday that it will step up its fight against investment and other fraud promising lucrative returns by using generative artificial intelligence technology to enhance information analysis. A group established within the agency the same day will utilize the technology to find schemes showing patterns common among past fraud c...
Tokyo, September 1 (Jiji Press) - The Japanese Consumer Affairs Agency announced plans to bolster its efforts against investment and other fraudulent schemes exploiting generative artificial intelligence technology. The agency launched a dedicated unit within its ranks to leverage AI for enhanced information analysis, aiming to detect common patterns among historical fraud cases and identify malicious business operators to enable proactive intervention.
Consumer Affairs Minister Hitoshi Kikawada emphasized the urgency of rapid response, as once financial losses accrue, recovery becomes exceedingly difficult. The new group will employ a generative AI system to analyze the over 900,000 annual reports to the National Consumer Affairs Center, focusing on identifying suspicious schemes and early indicators of business failures based on data extracted from past reported cases.
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Also reported by 1 other outlet
- Japan turns to AI in fight against investment fraud japantimes.co.jp
