Bank Transfers Getting More Scrutiny

[Mulboyne]

Kyodo via Yahoo: FSA to require sender identity confirmation with over 100,000 yen
Japan's Financial Services Agency said Wednesday it has decided to require Japanese banks to confirm the identity of those sending 100,000 yen or more in a bid to clamp down on money laundering. The amount is down from the current 2 million yen to help block money laundering and the transfer of money to fund terrorist activities, according to the Japanese financial watchdog. The new rule for such transactions, including those necessitating the conversion of Japanese money into foreign currencies, will go into force Jan. 4, the FSA said. This will make it impossible for anyone to send more than 100,000 yen via an automated teller machine if they try to send the money without using a cash card, the agency said...more...

Off the top of my head, I suspect this may begin to affect "sleeping bank accounts" where FGs are overseas but still using old accounts for occasional transfers.

[Mulboyne]

Mainichi: Gov't to impose stricter regulations on cash bank deposits in crackdown on laundering

People who try to make deposits in person of more than 100,000 yen in cash at financial institutions will be required under a law to show identity that proves they are the holders of the accounts, according to revised regulations. The Cabinet on Tuesday adopted revised regulations designed to lower the limit of accepting cash payments at institutions without identification in a bid to block money laundering and fund transfers to terrorist organizations. Currently, those who deposit more than 2 million yen in person at counters have to prove their identity. After the revised regulations take effect on Jan. 4 next year, people who try to deposit more than 100,000 yen in cash will not be able to do so at automatic teller machines (ATMs). Instead they have to prove their identity by showing identity cards such as driver's licenses over the counter at financial institutions. Account holders won't need to show identification to transfer money from account to account as they would have already proved their identity when setting up the accounts.

[Big Booger]

Mainichi: Gov't to impose stricter regulations on cash bank deposits in crackdown on laundering

So now terrorists will just deposit 100000 yen at a time, 20 times a day... LOL WTF???

I don't understand how this is supposed to stop money laundering???