FINANCIAL SERVICES AGENCY

AML / KYC

Europe’s AMLD5 and its Impact on AML Regulations in Asia

By Claus Christensen | 15/10/2018

While AMLD5 confirms the EU’s leadership role in AML legislation, similar efforts have been seen in Asia, says Claus Christensen at Know Your Customer Ltd.

Japan’s Suruga Bank Ordered to Halt Property Lending

By Manesh Samtani | 08/10/2018

The bank was found to have extended inappropriate loans to businesses related to its founding members based on falsified proof of income and assets.

AML / KYC

Japan FSA Prioritises AML Measures Ahead of FATF Peer Review

By Editors | 01/10/2018

The FSA will conduct on-site inspections at financial institutions over the next 12 months, hoping to clean up its image with the FATF before it hosts the G20 summit next year.

Crypto / Digital Assets

Japan FSA Probes $60mn Hack at Crypto Exchange

By Manesh Samtani | 24/09/2018

About two-thirds of the stolen cryptocurrency belonged to customers of the exchange platform Zaif, which will receive a cash infusion from Fisco Digital Asset Group to help repay them.

Market Infrastructure

CFTC Swaps Reform to Give Deference to Foreign Regulators

By Manesh Samtani | 12/09/2018

The CFTC’s approach to swaps regulation to date has been an over-expansive assertion of its jurisdiction, said its chairman Christopher Giancarlo in Japan this week.

Capital / Liquidity

Japan’s Regional Banks Told Not to Blame BOJ for Woes

By Manesh Samtani | 23/08/2018

FSA commissioner urges regional banks, whose profits are down 30% from 5 years ago, to explore ways to manage low interest environment, other than blaming monetary policy.

Enforcement

Japan’s Suruga Bank Under Fire for Potentially Illegal Loans

By Manesh Samtani | 22/08/2018

Draft report by investigative panel says the bank’s management failed to take reasonable caution against lending malpractice involving the falsification of documents.

AML / KYC

Japanese Regional Banks to Set Up AML Information Sharing

By Manesh Samtani | 16/08/2018

An information sharing network between 64 regional banks aimed at AML/CFT efforts is part of a larger legal and regulatory push in the country against money laundering in preparation for an FATF inspection.

Crypto / Digital Assets

Cryptocurrency Framework Needs Update – Japan FSA

By Manesh Samtani | 16/08/2018

On-site inspections revealed a lack of internal controls, inadequate governance and poor business models at exchanges.