Glossary of terms commonly used in the Wallet

money laundering

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How to read in Japanese: money laundering

Money laundering is an act to obscure the source of funds obtained through criminal activity. It involves repeated transfers of money using fictitious or other people’s names in financial accounts, etc., the purchase of stocks and bonds, and large donations.

It is difficult to trace the money laundered because it goes through multiple procedures and accounts. Therefore, it is considered an act that evades seizure and detection by investigative agencies.

Countermeasures against money laundering are being taken in many countries around the world to keep pace with changing times and technology, and there is even an intergovernmental organization dedicated to combating money laundering called the FATF. In Japan, the Identity Verification Act has been partially amended and measures have been taken, such as setting a limit on the amount of money that can be transferred.

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