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Japan Revises Article 17 Rules for Financial Institutions Handling Number-Linked Deposit Accounts

The update changes part of the framework covering financial institutions designated under Article 17 for deposit account management using individual numbers with depositor consent.

Summary

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Terms & Concepts
  • Article 17: A specific legal provision referenced in the rule change governing designated financial institutions and deposit account management.
  • individual numbers: A personal identification number system used to link individuals to administrative or financial records with consent.
  • deposit account management: The administrative handling of bank account information under a legal framework set by the government or regulators.