Ratify and comply: a pathway for Japan to follow the FATF recommendation 35

Abstract

Purpose To identify the reason of Japan not complying with the Financial Action Task Force (FATF) recommendation 35 and suggesting a strategic solution to overcoming the barrier. Design/methodology/approach Through contextual, historical, and legal analysis of the anti-money laundering (AML) measures in Japan. Findings This paper implies that less flexible mindsets in stone of major players in the field of AML measures in Japan are the fundamental barrier for Japan not complying with the FATF Recommendation 35, while this paper suggests better realistic ways to address the barrier. Originality/value The novel point of this paper is that this paper illustriously uncovers the mindsets of the major players pertaining to the Japanese AML measures in a very illustrative way, points out the underlying true barrier, and describes a useful strategy desperately needed to address the barrier.

Taxonomies of money laundering: an Iranian perspective

“…The difference arises from a tautology: Iran does not accept the international community's view that Lebanon's Hizbullah is a terrorist organisation, neither Iraq's Hashado Shabi nor Yemen's Ansarollah, and that as such, any payments to these groups, through charities or government financial support, cannot, by definition, constitute terrorist financing. This diametrically opposite interpretation of what constitutes a terrorist organisation is the main reason for the country's refusal to accede to the Palermo Convention and the Terrorist Financing Convention of 1999, both of which underpin the FATF's efforts to reduce terrorist-related money laundering (Matsuoka, 2018). These two sources of laundered fundsdrugs and terrorismcome to mind in the context of Iran but as explained, there are several others which are common to developing countries generally.…”