Editorial

14:59 JST, January 11, 2025

Society has entered an era in which people who have never met before connect with each other through social media and form criminal groups. Financial institutions must take thorough measures to stop money laundering so that funds obtained through crimes do not go unchecked.

The Financial Services Agency has issued a business improvement order to Aeon Bank, which is under the umbrella of major retailer Aeon Co., on the grounds that the bank’s measures to prevent money laundering were inadequate.

The bank has been found to have neglected to check whether at least 14,000 transactions detected in its monitoring system fell into the category of suspicious transactions, such as those involving large amounts of money, during the periods from June to November 2023 and from July to September 2024.

The bank is also said........

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