Japan: Report on the Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

Volume/Issue: Volume 2004 Issue 187

Publication date: July 2004

ISBN: 9781451820508

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Finance , Public Finance , ISCR , CR , CFT , financial institution , AML , CFT requirements , CFT system , Japan , carrying out , information effort , law enforcement authority , inspection procedure , JAFIO's statistics , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Terrorism financing , Money laundering , Legal support in revenue administration , Financial stability assessment

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Summary

This Report reviews the Observance of Standards and Codes on the Financial Action Task Force (FATF) Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Japan. The assessment reveals that Japan has made good progress in bringing its regime for AML/CFT into compliance with international standards. A comprehensive legal and institutional framework is in place, and Japan has achieved a good level of compliance with the FATF 40+8 Recommendations. However, some weakness is noted in the area of international cooperation, and the supervision of AML/CFT compliance for postal banks.