Japan Urged to Improve Measures against Terrorist Financing
Newsfrom JapanEconomy Politics
Tokyo, Aug. 30 (Jiji Press)--The Financial Action Task Force, a global money laundering watchdog, on Monday urged Japan to improve its measures to eradicate terrorist financing.
In a report on its latest evaluation of Japan, the FATF said that the Asian country has problems with the legal framework and financial supervision linked to the fight against terrorist financing.
The urgency of cutting terrorist financing is increasing amid mounting concerns about a rise in terrorist activities following the U.S. military's withdrawal from Afghanistan.
In response to the FATF report, the Japanese government drew up an action plan that will be implemented over the coming three years.
The FATF said that Japanese financial service providers other than big banks do not understand the issues of money laundering and terrorist financing well, urging the country's financial authorities to improve the situation.
[Copyright The Jiji Press, Ltd.]