Finance
Japan Regulator Orders Aeon Bank to Fix Money Laundering Gaps
- At least 14,639 transactions improperly screened for two years
- In 2021, global watchdog urged Japan to step up AML measures
This article is for subscribers only.
Japan’s financial regulator ordered Aeon Bank Ltd. to fix its anti-money laundering system, saying it failed to detect and report suspicious activities by clients.
The Financial Services Agency said on Thursday that the bank’s management failed to rectify deficiencies despite repeated calls by the regulator to do so. Aeon Bank didn’t properly screen at least 14,639 transactions in 2023 and 2024, it said in a statement.