At least 12 regional banks in Japan have introduced a system to monitor ship-to-ship transfers of cash and gold earned through illicit means as part of their efforts to combat money laundering, bank officials said Wednesday. The introduction of the system of IHS Markit, an information-providing firm headquartered in London, comes as an intergovernmental body tasked with combating money laundering and terrorist funding has indicated Japanese regional banks’ anti-money laundering measures were insufficient. According to its 2021 report on Japan, the Financial Action Task Force said some financia…

Read More