Global knowledge management of suspicious transaction reporting system in Japan

Noriaki Yasaka

Journal of Money Laundering Control, 2020, vol. 23, issue 1, 55-63

Abstract: Purpose - The purpose of this study is to make clear the structure of suspicious transaction reporting system in Japan from perspective of knowledge management. Because of the institutionalization of law, suspicious transaction reports in Japan have increased, but most of these reports are from financial institutions. Moreover, it cannot be said that the effect is used completely. It is important to increase the accuracy of the data mining method and incorporate the concept of knowledge management. Furthermore, it is desirable to use suspicious transactions from a global “knowledge management” perspective. Design/methodology/approach - Based on the case of the Japanese transaction reporting system, Global knowledge management of suspicious transaction reporting system would be considered. Findings - It is effective for money laundering countermeasures to deepen knowledge management of data → information → knowledge → wisdom. This brings the refinement of typology at the transaction unit to the upper level. This repetition has become more advanced and generalized knowledge. Knowledge transferred from national stage to international stage is organized as further information → knowledge → wisdom by collecting data based on that knowledge. By repeating this systematization in the process of knowledge management, global prevention measures against money laundering would be disseminated. As the result of these efforts, effective counter measures against money laundering could be sharper than before. Originality/value - This is the first study about the analysis of suspicious transaction reporting system in Japan linked to the global knowledge management.

Keywords: Knowledge management; Data mining; Japan Financial Intelligence Center (JAFIC); Suspicious transaction report (STR); National Public Safety Commission; Anti-Drug Special Law (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-04-2019-0032

DOI: 10.1108/JMLC-04-2019-0032

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