FSA Inspects Bigmotor, Sompo Japan over Insurance Fraud Scandal
Tokyo, Sept. 19 (Jiji Press)--Japan's Financial Services Agency launched on-site inspections Tuesday of scandal-hit Bigmotor Co. and its business partner Sompo Japan Insurance Inc. as part of an investigation into fraudulent auto insurance claims by the major used car dealer.
FSA inspectors entered Sompo Japan's head office in Tokyo's Shinjuku Ward and a Bigmotor outlet in the western Tokyo city of Tama Tuesday morning. The inspection is expected to take several months.
At a press conference after the day's cabinet meeting, financial services minister Shunichi Suzuki said the FSA intends to "carry out an in-depth fact-finding investigation in order to identify the root cause of the problem."
Bigmotor has been found to have inflated insurance claims by deliberately damaging vehicles customers left in its care for repairs.
The FSA will conduct a detailed investigation into the cause of the fraud and examine whether there were problems in terms of policyholder protection. If problems are found during the inspections, the agency will consider issuing administrative punishments, such as business improvement orders, against the companies.
(2023/09/19-13:58)
To read a full story, please click here to find out how to subscribe.
NATION
- 09/27 22:31 Japan Average Annual Pay Rises to 4.58 M. Yen in 2022
- 09/27 22:12 NHK Suspends New Contracts with Johnny's Talents
- 09/27 21:44 Japanese Soccer "Genius" Shinji Ono, 44, to End Career
- 09/27 21:06 S. Korea Eyes New Joint Declaration with Japan: Ambassador
- 09/27 20:34 (Update) Osaka Court Recognizes 128 Minamata Disease Sufferers
- 09/27 20:11 Russia Says to Discuss Fishery Import Restrictions with Japan
- 09/27 18:26 Japan Lawmaker Akimoto Indicted for Alleged Bribery, Fraud
- 09/27 18:22 Japanese to Head Body for Japan-Britain-Italy Fighter Development
- 09/27 18:12 Osaka Court Recognizes 128 Plaintiffs as Minamata Disease Sufferers
- 09/27 17:34 Online Casino Settlement Agents Arrested in Japan
- 09/27 16:13 (Update) Tsushima Mayor Says Will Not Accept N-Waste Site Survey
- 09/27 15:38 No Approval for Henoko Design Changes by Deadline: Okinawa Gov.
- 09/27 15:35 Ex-Tokyo Games Exec Takahashi Refuses to Testify in Hearing
- 09/27 14:01 Japan Explains Fukushima N-Plant Decommissioning at IAEA
- 09/27 13:28 Memorial Held on 9th Anniversary of Mount Ontake Eruption
- 09/27 13:04 Tsushima Mayor Says Will Not Accept Nuclear Waste Literature Survey
- 09/27 11:11 "Pool Fever" Cases Reach Decade High in Japan
- 09/27 11:00 Japan Imperial Succession Talks Stall under Kishida Govt
- 09/27 09:40 Aso's "Cancer" Remark Upsets Japan Ruling Lawmakers
- 09/27 08:37 Dutch Chip Giant ASML to Launch Base in Hokkaido
- 09/26 23:37 Kishida Plans to Visit Philippines in Early Nov.
- 09/26 22:33 Nippon Ishin Lawmaker Resigns over Election Offense Charges
- 09/26 21:40 Speculation Grows over Possible Autumn Snap Election
- 09/26 21:28 Lawmaker Sugita's Slur against Ainu People Regrettable: LDP's Motegi
- 09/26 20:00 (Update) Japan-China-S. Korea Trilateral Summit Eyed for Dec.
- 09/26 19:32 BOJ "Tankan" Likely to Show Stronger Biz Sentiment
- 09/26 17:45 Kihara to Make 1st U.S. Trip as Japan's Defense Chief in Oct.
- 09/26 17:35 Japan-Led Int'l Meeting Agrees to Boost Global Hydrogen Demand
- 09/26 17:13 Japan's Quasi-Refugee System to Start on Dec. 1
- 09/26 17:05 (Update) Dollar Hits 11-Month Highs above 149 Yen
- 09/26 14:07 Japan Kishida Orders Economic Package Compilation by End-Oct.
- 09/26 13:04 Japan Police to Beef Up Crime Victim Support Functions
- 09/26 12:05 Japan, China, S. Korea Hold Talks to Realize 3-Way Summit
- 09/26 11:05 Ties Unchanged despite Japan Cabinet Reshuffle: White House
- 09/26 10:10 1 Year On, Nishi Kyushu Shinkansen Boosts Tourism, Migration
- 09/26 09:33 Japan, China Clash over Fukushima Treated Water at IAEA Meeting
- 09/26 00:21 Yahoo Japan Eyes Review of Contracts with News Providers
- 09/25 22:40 Kishida Asks UAE Minister to Increase Crude Oil Output
- 09/25 22:17 Japan Economy in Critical Phase for Wages, Prices: BOJ Ueda
- 09/25 21:54 U.S. Eyeing Space Force in Japan
- 09/25 20:38 (Update) New Economic Measures to Distribute Fruits of Growth: Kishida
- 09/25 20:18 Japan Top Court to Rule on 2022 Upper House Poll on Oct. 18
- 09/25 20:05 Kishida Says Japan Keeping Close Eye on Currency Moves
- 09/25 19:52 New Economic Measures to Distribute Fruits of Growth: Kishida
- 09/25 19:34 Japan Govt Approves Novel Alzheimer's Drug
- 09/25 18:09 Japan Outlines Relief Measures for Part-Timers
- 09/25 17:09 Man, 18, Given 54 Months for Robbery in Tokyo's Ginza
- 09/25 17:04 Scandal-Hit Mayor of Kanagawa Town Ousted in Referendum
- 09/25 14:37 Osaka Expo Construction Cost Seen Jumping to 230 B. Yen
- 09/25 13:42 Japan Govt to Forgo Submitting Bill on Japanese Version of DBS
- 09/25 11:26 Japan PM Kishida to Outline Economic Package Mon.
- 09/25 09:15 Syphilis Cases in Japan Top 10,000 for 2nd Year in 2023
- 09/24 14:04 Japan's Princess Kako Tests Positive for COVID-19
- 09/24 12:25 1 Month On, Chinese Import Ban Damaging Japan's Food Exports
- 09/23 19:56 Bento Maker in Japan Banned from Operating over Food Poisoning
- 09/23 15:43 Quad Ministers Voice Opposition to Attempts to Change Status Quo
- 09/22 22:51 Weekly Number of Flu Cases Surges in Japan
- 09/22 22:39 Kamikawa Makes Safe Debut as Japan's Top Diplomat
- 09/22 21:48 (Update) Japan Crown Prince, Crown Princess Meet Students in Vietnam
- 09/22 19:28 Japan Crown Prince, Crown Princess Meet Youth in Vietnam
- 09/22 19:00 Construction Sector Head Worried over Osaka Expo Pavilion Delays
- 09/22 18:05 TSE to Launch Carbon Credit Market Oct. 11
- 09/22 18:02 Aseismic Measures Inadequate at 57 Disaster Wireless Bases
- 09/22 17:41 Japan Local Govts Working to Encourage Paternity Leave
- 09/22 16:32 Int'l Society to Keep Eye on Henoko Base Construction: Okinawa Governor
- 09/22 16:24 BOJ Cannot Pinpoint When Policy Revision May Happen: Ueda
- 09/22 16:00 Arrested Lawmaker Likely Involved in COVID-19 Relief Fraud
- 09/22 15:12 Japan Core Consumer Prices Up 3.1 Pct in Aug.
- 09/22 13:52 (Update) BOJ Keeps Ultraeasy Monetary Policy Unchanged
- 09/22 13:43 G-4 Nations See Urgent Need for U.N. Security Council Reform
- 09/22 13:28 Japan's Fujinami Wins Wrestling World Title
- 09/22 12:32 Japan, Canada Sign Deal on EV Battery Supply Chains
- 09/22 11:32 Japan Aims to Attract Foreign Asset Management Firms
- 09/22 09:28 Apple's iPhone 15 Released in Japan
- 09/22 01:26 Japan, S. Korea Share Concern over N. Korean Missiles
- 09/22 00:47 (Update) Japan to Help Developing Nations Tackle Pandemics
- 09/21 23:11 Japan Crown Prince, Crown Princess Celebrate Friendship with Vietnam
- 09/21 21:52 Ex-Japan Lawmaker GaaSyy Released on Bail
- 09/21 20:07 (Update) Studio Ghibli to Become Subsidiary of NTV
- 09/21 19:21 Japan to Strengthen Patent Screening System for AI Inventions
- 09/21 18:42 U.S. Unmanned Surface Vessel Makes 1st Port Call in Japan
- 09/21 18:38 (Update) Japan Cancer Center Hospital Ex-Doctor Arrested over Bribery
- 09/21 18:30 Japanese Gasoline Prices Fall for 2nd Straight Week
- 09/21 18:15 Japan FTC Finds Big Gap in News Royalties Paid by Platform Providers
- 09/21 17:17 Japan's Studio Ghibli to Become Subsidiary of NTV
- 09/21 16:51 Japan Promotes Tourism, Food in New York
- 09/21 16:17 Japan Cancer Center Hospital Ex-Doctor Arrested over Bribery
- 09/21 15:29 Japan, Mongolia Leaders Discuss "Vivant" Tourism Hopes
- 09/21 14:20 Kishida among Leaders Absent from Climate Summit at U.N.
- 09/21 12:55 Japan to Outline Economic Package Early Next Week: Kishida
- 09/21 11:31 Kishida Raps Russia over Concerns of "Rule of Lawlessness"
- 09/21 09:04 Kishida Seeks "Constructive" Steps to Revive Iran Nuclear Deal
- 09/20 22:24 (Update) Japan Digital Agency Given Guidance over My Number Mess
- 09/20 12:45 Japan Posts Trade Deficit for 2nd Straight Month in Aug.
- 09/20 10:52 High-Level Japan-China-S. Korea Talks Set for Tues.