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

International Monetary Fund

No 2004/187, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: 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 (search for similar items in EconPapers)
Pages: 15
Date: 2004-07-02
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