JAPAN TO IMPLEMENT NEW AML RULES IN OCTOBER
September 1st, 2016
JAPAN’S more stringent anti-money laundering rules will come into effect on October 1, following international criticism that Tokyo has dragged its feet on fighting money laundering and the financing of terrorism. With the amendment of the ‘Act on Prevention of Transfer of Criminal Proceeds’ enacted by the ‘Diet’ — Japan’s parliament — last year, the onus is now on financial institutions to be ready for implementation of the anti-money laundering rules next month.
The new regulations, according to Japan’s National Police Agency and the ...
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