Japan’s efforts in the global fight against money laundering and terrorist financing

Abstract

Describes briefly the measures taken by Japan as part of the fight against terrorism; Japan was a founding member of the Financial Action Task Force. Outlines the provisions of the Law for Criminalisation of the Financing of Terrorism, passed in 2002, which criminalises terrorist financing even before commission of a criminal act, and also covers criminal acts outside Japanese jurisdiction. Moves on to the Anti‐Organised Crime law, which now allows seizure of these funds and requires financial institutions to report suspicious transactions; and the Law on Customer Identification and Retention of Records on Transactions with Customers by Financial Institutions, which requires financial institutions to keep customer identification records. Focuses on the performance of the Japanese Financial Intelligence Office (JAFIO) in analysing suspicious transaction reports and passing on relevant information to law enforcement agencies.

Citation

Kishima, K. (2004), "Japan’s efforts in the global fight against money laundering and terrorist financing", Journal of Money Laundering Control, Vol. 7 No. 3, pp. 261-263. https://doi.org/10.1108/13685200410809959