As the U.S. and U.K. intensify their scrutiny and monitoring of financial crime countermeasures, China has deliberately begun to shift its own risk to Japan, which it perceives as “soft on anti-U.S. measures.”
Japanese financial institutions, along with the Financial Services Agency (FSA) and Local Finance Bureaus, are still complacent with “mere formal compliance.”
They have yet to confront the stark reality that, from the perspective of international oversight, “we are indirectly condoning criminal activity.”
This Japanese negligence is a national disgrace and is certain to invite intense condemnation from the global community in the near future.
