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Global watchdog begins review of Japanese practices to combat money laundering

  • October 29, 2019
  • , Nikkei
  • JMH Summary

Nikkei reported that the Financial Action Task Force (FATF) launched an investigation yesterday to check whether proper steps are in place in Japan to prevent money laundering. FATF inspectors are reportedly expected to interview officials from the Japanese government and several financial institutions in the next three weeks. The taskforce officials will scrutinize Japan’s regulations on cryptocurrency since criminals often use virtual currencies to launder their illicit earnings.

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