E-money laundering in Japan increases drastically in 2019


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Financial service will be stricter and more paperwork especially for foreigners, even this has nothing to do with foreigners.

6 ( +6 / -0 )

The govt is worried about capitol flight and tax evasion. Ever noticed how you can bring the equivalent of $10,000 in cash into the country through customs, but any transfer upwards of 300,000 from overseas gets flagged by your bank? What is up with that? And don't tell me it's about financing "terrorism", as the government claims.

6 ( +6 / -0 )

The paperwork, all in Japanese to transfer just £2500 from overseas from my bank account was probably the most complicated experience I have encountered in Japan. Both accounts were in my name. Big transfer fee.

4 ( +4 / -0 )

I bank with Shinsei and they recently changed their overseas remittance process. Took me almost 4 months to register. They couldn't even carry over any info from my previous account. What a nightmare it was, and still is. I wanted to send some money last week, and so I had to call because my sending limit was reached. Woman on the phone told me I had to send them all sorts of bank statements in order to increase my remittance limit. I said it was an emergency and she let me send $500, however she asked me if I was sending money for North Korean and Iranian weapons. Lol

3 ( +3 / -0 )

I also bank with Shinsei but these days they seem to change something every week. I get a consent flow of emails.

A brother in the states sends me money with Transferwise which works fast and cheap. Can be used to send money out but I have not used it. Arrives into my dollar account within two days.

Thought all banks had stopped accepting foreign checks but discovered on still accepting them but not at all branches.

SMBC Trust Bank Kobe Branch. 078-265-2415

1 ( +1 / -0 )

How about using paypal or equivalent ?

Is it possible ? (Transfer from foreign accountot paypal, then from paypal to Japanese account ?)

I did not have big issue with Shinsei a few years ago. Just the first money sending had to be done through paperwork.

Sad thing it is not improving.

Best is to have a good bank card and remove money from cash machine.

0 ( +0 / -0 )

Actually, it's the number of reports which is increasing...

0 ( +0 / -0 )

zichi actually nailed what the article is about ...It's about Operators who move money about . Zichi more that likely has his American pension sent to him by TransferWise ... TW is not a Bank ... It's an operator

0 ( +0 / -0 )

I thought JAPAN had the best tracking system.

0 ( +0 / -0 )

Never had issues with the Japan Post Bank. Sent a total of 2.75million yen in 3 transfers to Japan from overseas this year and never have been asked a question.

0 ( +0 / -0 )

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