An international organization that examines the efforts of each country regarding anti-money laundering by criminal organizations = so-called money laundering measures has announced the examination results for Japan.
While evaluating the results of the measures taken so far, the measures taken by regional banks and others are inadequate, and the government is requested to strengthen the system for supervision and inspection.
Money laundering is the act of moving funds obtained from crimes between financial institutions to make them appear legal, and is said to be a source of funds for terrorist organizations as well as domestic criminal organizations.
The FATF, an international organization that examines the systems of financial institutions and supervisors in each country to strengthen measures, has announced the results of its examination of Japan, which has been ongoing for two years.
According to it, Japan's comprehensive judgment requires regular reports of improvement status while evaluating the measures taken so far in the "priority follow-up countries" in the middle of the three categories.
Specifically, small-scale financial institutions such as regional banks are not fully prepared for continuous customer management, such as verifying the identity of corporate representatives, and are demanding that they be raised to the level of major banks.
It also requires the government to strengthen its supervision and inspection system for financial institutions and crypto asset companies, and to prioritize and punish related crimes.
Based on the results of the examination, the government will set up a countermeasures meeting created by the National Police Agency, the Ministry of Finance, and the Financial Services Agency, and will formulate an action plan for the next three years.
Deputy Prime Minister and Finance Minister Aso "Successful"
Regarding the results of this examination, Deputy Prime Minister and Minister of Finance Aso said, "The report shows good results in fields such as international cooperation, and it is said that the results of maneron and terrorism financing measures have been achieved. With the understanding and cooperation, we would like to take measures, realize a safe and secure life, and contribute to the sustainable economic growth of Post Corona. "
What is a "priority follow-up country"?
In this FATF review, Japan was evaluated as a "priority follow-up country" like the United States and Canada.
The FATF examination results are classified into three categories: "normal follow-up countries", which are said to have the most advanced environment for measures against money laundering and terrorist financing. It is classified into "priority follow-up countries" where reports on the status of improvement are required, and "observation target countries" where improvements such as legislation are required at an early stage due to insufficient development of measures.
Eight countries, including Italy, the United Kingdom, and Spain, have been rated as "normal follow-up countries" in the FATF review that has been completed so far.
"Priority follow-up countries" are 19 countries including the United States, Canada, Australia, South Korea, and China.
There are two "observation countries", Iceland and Turkey.