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3 Damage recovery benefit system
The Act on Damage Recovery Benefit Distributed from Fund in Bank Accounts Used for Crimes (Act No. 133 of 2007) aims to pay damage recovery benefit to the victims of crimes such as fraud using bank account, etc. It provides procedures for the lapse of rights of the holder of bank accounts used in crime and establishes procedures to distribute damage recovery benefit. This facilitates prompt recovery from any financial damage caused by fraud using bank account, etc. During the period between June 21, 2008, when the said act was enforced, and the end of March 2009, a total amount of approximately 660 million yen was paid to victims to assist recovery from damage (Source: Deposit Insurance Corporation of Japan).
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