Japan’s FSA Beefs up Anti-Money Laundering Measures

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The Financial Services Agency has made anti-money laundering measures a top priority in its annual policy report as it braces for inspections by an intergovernmental watchdog next spring.

The latest guidelines, which outline steps the regulator is taking over the next 12 months, highlight measures against money laundering and terrorism funding, including on-site inspections of financial institutions.

The Financial Action Task Force has previously criticized Japan for insufficient legal safeguards against money laundering. The government hopes to clean up its tarnished image, particularly as it will host the Group of 20 summit next year.

Read the original article here: asia.nikkei.com

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