Japanese Bankers Association

Establishment of the “AML/CFT Measure Support Division”

 For financial institutions, designing and taking Anti-Money Laundering/Countering the Financing of Terrorism measures (AML/CFT measures) are urgent issues and becoming ever more important as the international community faces increasing threats, such as terrorism.

 Also in Japan, the FATF is scheduled to conduct its fourth round of mutual evaluations next year. Toward fourth round of mutual evaluations, in February 2018, the Financial Services Agency issued its "Guidelines for Combating Money Laundering and Terrorism Financing" to enhance the AML/CFT measures for financial institutions.

 Against such a background, we, Japanese Bankers Association (JBA), has established the AML/CFT Measure Support Division within the Legal & Compliance Department with a view to further enhancing the AML/CFT framework of the banking sector.

 In addition to our traditional supports, JBA will provide further support to our member banks for their AML/CFT efforts by, among other things, collecting and sharing the latest information and advanced practices/know-hows relating to AML/CFT measures at home and abroad, in order to maintain and enhance the reliability and soundness of the financial system in Japan.