Ratify and comply: a pathway for Japan to follow the FATF recommendation 35

Akira Matsuoka

Journal of Money Laundering Control, 2018, vol. 21, issue 1, 71-88

Abstract: Purpose - To identify the reason of Japan not complying with the Financial Action Task Force (FATF) recommendation 35 and suggesting a strategic solution to overcoming the barrier. Design/methodology/approach - Through contextual, historical, and legal analysis of the anti-money laundering (AML) measures in Japan. Findings - This paper implies that less flexible mindsets in stone of major players in the field of AML measures in Japan are the fundamental barrier for Japan not complying with the FATF Recommendation 35, while this paper suggests better realistic ways to address the barrier. Originality/value - The novel point of this paper is that this paper illustriously uncovers the mindsets of the major players pertaining to the Japanese AML measures in a very illustrative way, points out the underlying true barrier, and describes a useful strategy desperately needed to address the barrier.

Keywords: Anti-money laundering; Conspiracy; Japanese AML; The financial action task force; The United Nations convention against transnational organized crime; The Palermo convention (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-02-2017-0007

DOI: 10.1108/JMLC-02-2017-0007

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