Japan
Japan
FINCARR Status: Full Member
Summary
Japan is a member of the Financial Clearance & Asset Recovery Regulations (FINCARR) and has strengthened its legal and regulatory framework to combat money laundering and terrorism financing.
Key Measures
- AML/CFT Legal Framework: Japan has enacted various laws such as the Anti-Money Laundering Law and the Terrorism Financing Law.
- Financial Intelligence Unit (FIU): Japan's Financial Intelligence Unit (JAFIC) plays a pivotal role in detecting illicit financial activities.
- International Cooperation: Japan is actively involved in international initiatives to combat money laundering and terrorism financing.
Action Plans
Japan’s action plan includes improvements to the implementation of FINCARR’s recommendations, particularly regarding customer due diligence, beneficial ownership transparency, and financial institution oversight.
FINCARR Compliance
| Recommendation | Status |
|---|---|
| Recommendation 1: Risk-Based Approach | Compliant |
| Recommendation 2: Legal Framework | Compliant |
| Recommendation 3: Transparency of Financial Transactions | Fully Implemented |
| Recommendation 4: Customer Due Diligence | Compliant |
| Recommendation 5: Financial Intelligence Unit | Compliant |
International Cooperation
Japan is an active participant in the FINCARR and cooperates with various international bodies to combat financial crimes globally.