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Banks to access police data to eradicate underground transactions

  • 2015-02-20 15:00:00
  • , Nikkei
  • Translation

(Nikkei: February 20, 2015 – p. 5)


 The Japanese Bankers’ Association will introduce a system that allows access to National Police Agency (NPA) data via the Deposit Insurance Corporation of Japan to eradicate transactions with anti-social forces, including underground crime syndicates, it said on Feb. 19.


 The system will cover individuals who finance loans for the first time. It will be implemented as early as possible.


 The disclosure that a bank supplied funds to criminal organizations in 2013 prompted the move. The association expects using police data will help protect banks against underground transactions.


 To extend housing loans to individuals, banks verify their identities, including affiliations with crime organizations. Loan applications will be rejected when borrowers belong to these groups.


 Banks currently use data they collect on their own or a database created by the association. These systems are not connected to NPA database, which offers more accurate information.

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