Field Study on Illegal Loan Transactions under COVID-19 Pandemic
2020 Volume 7 Pages 5-12
Details
2020 Volume 7 Pages 5-12
Since the revision of the MLBL in Japan in 2006, Yamikin-related crimes seem to have subsided in the lending market. However, according to the media reports of those incidents, while the number of cases in which police have detected Yamikin has remained constant, recent Yamikin-criminals have evolved the business model more wisely to escape detection.
Under this circumstance, COVID-19 pandemic has led the global economy to shrink since this March, and the Japanese economy suddenly deteriorated. The media also reported that the damage caused by illegal financial transactions appeared to be increasing under the economic conditions in COVID-19 pandemic.
Therefore, in COVID-19 pandemic, we have focused on the two illegal financial services, bilateral factoring service and inter-personal lending service on SNS and examined these actual lending transactions. The result of analysis suggested that bilateral factoring for small and medium-sized enterprises has reduced the number of transactions, while inter-personal lending on SNS has seemed to be proliferated since this May, shortly after Japan’s economic started to resume.
