HOME > Policy on Compensation for Damage Due to Unauthorized Use of International Money Transfer Service (Translation)

Policy on Compensation for Damage Due to Unauthorized Use of International Money Transfer Service (Translation)

SBI Remit Co., Ltd. (the “Company”)’s policy on compensation for damage caused by unauthorized use of our International Money Transfer Service and International Money Transfer Receipt Service (collectively, the “Services”) is as follows. Unless otherwise specified, the definitions of terms used herein will be in accordance with the Terms and Conditions for International Money Transfer Transactions.

 

1. Existence or Non-Existence of Compensation, Details, and Requirements for Compensation for each Specific Situation that May Cause Losses to Users of the Services

 

The situations in which the Company assumes that a member of the Service (a “Member”) may incur losses are as follows:

 

(1) In the International Money Transfer Service, a malicious third party impersonates the User by illegally obtaining a password or other information, and illegally transfers or withdraws the balance in the remittance reserve account; or

(2) In the International Money Transfer Receipt Service, a malicious third party impersonates a Member by illegally obtaining a reference number, etc., and fraudulently receives the transferred funds.

 

The compensation which may be provided to a Member for damage incurred in the above cases is as follows:

 

If the damage was caused by the Company’s willful misconduct or negligence, the Company will compensate the Member for the loss incurred in accordance with the Terms and Conditions for International Money Transfer Transactions. The Company will determine the final amount of compensation for the loss after considering the degree of the Member’s negligence. However, if the Member has received compensation from any party other than the Company, the amount of such compensation received shall be deducted from the compensation to be paid by the Company.

 

Compensation for part or all of the loss may not be provided in the following cases:

  •  ･In the case of (1) above, if the Member has mismanaged the password or other information;
  •  ･In the case of (2) above, if the Member or remittance requestor has mismanaged the reference number;
  •  ･If the loss is caused by the Member’s willful misconduct or negligence;
  •  ･If the loss is caused by the conduct of a family member in the same household as the Member or the Member’s relatives, etc.;
  •  ･If the Member has provided a false explanation to the Company regarding the fact of said loss, or has failed to cooperate with the Company’s investigation of the facts; or
  •  ･If the loss is caused by a war, riot, or other social disorder.

 

2. Existence or Non-Existence of Compensation, Details, Requirements for Compensation for each Specific Situation that may Cause Losses to a Person Other than a Member of the Services, and Matters Related to the Sharing of Compensation Between the Company and its Partners

The situations in which the Company assumes that a person other than a Member of the Services (a “Non-Member”) may incur losses are as follows:

 

(1) If a malicious third party impersonates the Non-Member, registers as a Member of the Services, and then links the remittance reserve account with a deposit account in the name of the Non-Member through account transfer, thereby causing unauthorized remittance or withdrawal of the balance in the deposit account in the name of the Non-Member.

 

The compensation which may be provided to the Non-Member for damage incurred in the above cases is as follows:

 

Compensation will be provided for the amount illegally transferred or withdrawn from the deposit account in the Non-Member’s name by account transfer for the transaction that caused the damage in question. The Company will consider whether or not to compensate the Non-Member and the scope of compensation based on the concept of compensation set forth in the guidelines on the compensation of unauthorized deposit withdrawals using online banking services published by the Japanese Bankers Association. If the Non-Member receives compensation from any party other than the Company, the amount of such compensation received shall be deducted from the compensation to be paid by the Company.

 

The Company shall, in principle, accept inquiries from Non-Members regarding compensation, and compensation shall be handled after consultation with the Company’s partners. The division of compensation between the Company and the partners will be determined upon consultation with such partners, taking into account the existence or extent of any attributable reasons.

 

Compensation for part or all of the loss may not be provided in the following cases:

  •  ･If the loss is caused by the Non-Member’s willful misconduct or negligence;
  •  ･If the loss is caused by the conduct of a family member in the same household as the Non-Member or the Non-Member’s relatives, etc.;
  •  ･If the Non-Member has provided a false explanation to the Company regarding the fact of said loss, or has failed to cooperate with the Company’s investigation of the facts; or
  •  ･If the loss is caused by a war, riot, or other social disorder.

 

3. Details of Indemnity Procedures

When a Member or Non-Member seeks compensation from the Company for a loss incurred due to an unauthorized transaction, such Member or Non-Member shall contact the consultation desk specified in Section 4 within sixty (60) days from the date on which the loss occurred, together with a compensation application form prescribed by the Company stating the following details, and attaching documentary evidence to confirm the facts:

  •  ･(i) Details of the transaction relating to the damage;
  •  ･(ii) Amount of loss incurred;
  •  ･(iii) Facts and circumstances of the loss incurred; and
  •  ･(iv) Other matters that the Company has requested to be notified of.

In addition, the Member or Non-Member shall report the damage to the police.

 

4. Consultation Desk Regarding Compensation / Contact Information

For any inquiries regarding compensation, please make contact at the following consultation desk:

 

SBI Remit Co., Ltd. – Customer Center

4F Sumitomo Fudosan Otowa Bldg., 2-9-3 Otsuka, Bunkyo-ku, Tokyo 112-0012

Tel: 03-5652-6759

E-mail: support@remit.co.jp

(Weekdays) 9:00 – 18:00 (JST)

(Closed during the year-end and New Year holidays and on Company designated holidays)

 

5. Criteria for Disclosure of Unauthorized Transactions

In the event of any of the above unauthorized transactions, the Company may promptly disclose necessary information when the Company determines that such disclosure: (i) is necessary in order to prevent the spread of damage; (ii) is beneficial in order to avoid the occurrence of similar cases; or (iii) is necessary as the social impact of the unauthorized transactions may be significant, taking into account the nature of such unauthorized transactions.

 

END
SBI Remit Co., Ltd.
Enacted on April 30, 2021
Amended on October 30, 2023
Amended on January 15, 2025