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 White paper on crime 2009 Part2/Chapter6/Section1/3 

3 Measures against money laundering

  The Financial Action Task Force (FATF) was established in 1989 in response to a declaration made at the summit. In 1990 FATF adopted 40 Recommendations concerning measures against money laundering, including criminalizing money laundering relating to drug offenses, obliging financial institutions to identify customers and to report suspicious transactions to the competent authorities, securing and confiscating illegal proceeds, and strengthening international cooperation, etc. These Recommendations were revised in 1996 and in 2003 to expand the scope of presupposed offenses of money laundering, strengthen the obligation of financial institutions to identify consumers and to report suspicious transactions, prevent misuse of corporate bodies, and apply measures against money laundering to non-moneylenders and professionals, etc. In addition, FATF adopted the Special Recommendations on Terrorist Financing in 2001 and in 2004 and has also been tackling terrorist financing. In Japan the National Public Safety Commission has strengthened international cooperation in tackling money laundering and terrorist financing by providing information on suspicious transactions to the relevant foreign agencies in accordance with the Act on the Prevention of Transfer of Criminal Proceeds.