The Japan Financial Services Agency (Japan financial regulator) outlined subsidies and rule revisions to help deposit-taking financial institutions share information on fraudulent accounts.
Japan’s Financial Services Agency (Japan financial regulator) said it will support a framework that allows deposit-taking financial institutions to share information on fraudulent accounts. The update covers how subsidies will be implemented and includes revisions to cabinet office ordinances and related rules. Such information-sharing frameworks are typically used to help banks and other deposit-taking institutions identify suspicious accounts more quickly, strengthen anti-fraud controls, and limit losses linked to financial crime.