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After Follow-up Exam, Japan Earns Higher FATF Rating

By Fred Williams

Japan secured a higher mark for taking steps to more fully implement one of a global group's 40 technical recommendations against financial crime after earning only a "partially compliant" score for the standard last year. On Sept. 13, the Financial Action Task Force re-rated Japan's efforts to ensure that various officials cooperate with each other against money laundering and terrorist financing "largely compliant," the next highest score, after the country formed an interagency council to coordinate anti-money laundering policy and formulated a plan to strengthen asset freezes. A failure to date to implement additional, unspecified required measures has left Japan...

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