Three Arrested Over Suspected Underground Bank for Chinese Clients

Sep 10, 2026 | News On Japan

KYOTO - Three people have been arrested in Kyoto on suspicion of operating an unlicensed underground banking service for Chinese clients, with police believing the group handled transactions worth about 600 million yen in total.

The suspects include a 56-year-old company executive, Takahashi, from Kyoto's Ukyo Ward, and a Chinese man and woman.

They are suspected of conducting 12 unlicensed foreign-exchange transactions between 2023 and 2024, exchanging Japanese yen entrusted to them for Chinese yuan without government authorization.

According to police, the group received requests from foreign nationals in Japan and accepted Japanese yen from them in cash. Yuan was then transferred from bank accounts held by Takahashi and the other suspects in China to accounts designated by the clients.

China restricts the amount individuals can remit abroad or receive from overseas, with the annual limit equivalent to about 7.66 million yen.

During voluntary questioning before his arrest, Takahashi reportedly told investigators that he needed yen to purchase real estate.

Police have not disclosed whether the three suspects have admitted or denied the allegations following their arrests.

Investigators believe the group conducted transactions worth about 600 million yen in total and are investigating whether they operated what is commonly known as an underground bank, carrying out foreign-exchange transactions without authorization.

Source: MBS NEWS

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