The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.
© KYODOJapanese regional banks to counter moneylaundering by sharing info
TOKYO©2024 GPlusMedia Inc.
The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.
© KYODO
13 Comments
Login to comment
Peeping_Tom
"Money laundering is all over the place in Japan. I've seen it first hand in big business"
Do you actually, I mean really ACTUALLY know what money laundering is?!
Ken Fridley
Some of these regional banks have no email systems and operate by telephones and fax. Wouldn't doubt some still use an abacus. The concept of a shared anti-money laundering system will really test their technological sensibilities...
gogogo
Actually is a "crime", but since countries cannot commit crimes it is against the WTO to trade your currency against another in order to manipulate your currency.
Kaishu
They might get a few surprises...unless a few of the pollies keep it stashed under that mattress..
Goodlucktoyou
Open casinos!!!
Wakarimasen
Long overdue and should be heavily supported by regulators throughout both national as well as global banking systems. The amount of time and effort banks spend on identifying customers and them maintaining client files to regulatory required standards is massive. This is especially wasteful of time and effort in the Wholesale banking segment of the industry.
And information sharing is a more effective way of detecting misconduct than each bank just looking at its own information.
Dango bong
currency manipulation is certainly not something you would expect from a country that is now trying to lecture the US on how to conduct free trade and stop protectionism. Japan and China are the biggest currency manipulators in the world, and to nobody's surprise they are also the world more protectionist economies as well.
Dango bong
It might be legal but not moral
Ah_so
Seems like an irrelevant comment whatever you are getting at. Currency trading is not a crime and governments are allowed to target exchange rates.
Dango bong
and they will counter currency manipulation by..... oh wait, that's ok here I forgot....
gogogo
Money laundering is all over the place in Japan. I've seen it first hand in big business. The problem is the tax authorities don't have enough power and privacy laws get in their way. The law is literally written, if you cannot see it, it does not exist.