The Financial Action Task Force’s Fourth Mutual Evaluation Report of Japan: A Review and Way Forward

The Financial Action Task Force (“FATF”) is an intergovernmental organization that develops standards for anti-money laundering (“AML”) and combating the financing of terrorism and weapons proliferation (“CFT”) (collectively, the “Recommendations” ) upon which participating countries are to base consistent measures (“Measures”). Periodically, FATF evaluates such countries to ascertain their Measures’ compliance with the Recommendations and effectiveness. On 30 August 2021, amid its fourth mutual evaluation of participating countries and for the first time in nearly a decade, FATF announced the publication of evaluation outcomes for Japan, based on (inter alia) on-site interviews conducted in 2019 (the “Report”). In the Report, FATF concludes that Japan shall be subject to ...To read the full article, please see the PDF file

*This article is also available in Japanese.

*September 15, 2021 Made some minor corrections.

It is also available in PDF.: Finance Law Newsletter (September 14, 2021) (503 KB / 11 pages) Download PDF [505 KB]

Authors

Chika IGARASHI

Partner
Tokyo

Chika Igarashi is a partner at Nishimura & Asahi specializing in the fields of (i) Banking and Financial Regulations. Chika also has extensive experience in advising a wide range of corporations on (ii) the countermeasures for AML/CFT (anti-money laundering/countering financing of terrorism) and foreign economic sanctions, including OFAC regulations; (iii) data privacy; (iv) global compliance and governance, including the establishment and implementation of whistleblowing and internal control systems; and (v) dispute resolution and crisis management involving cross-border aspects for corporate clients. She also advises corporations doing business in (vi) Africa and the Middle East.

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