International Furikomi Law

[GuyJean]

Just an FYI..

I received an international bank transfer in my Japanese bank account. The bank called and asked what the money was for. I told them to give me the details requiring me to divulge this information; it's the 'Gaitamehou'.. I guess it's new.. To prevent money laundering. I told them it was a drug payment.

Maybe all you smart guys already knew this..

GJ

[Greji]

[quote="GuyJean"]I told them it was a drug payment. ]

This is not new. The tax office monitors all large transfers coming into country and actually they can ask you for some quite detailed information, but they do not. They leave to the bank, who will just sometimes call you and say what was this for? I always tell them that I'm a gigolo and it is my allowance from my latest lady.

The only thing new might be the amount limit that must be exceeded, before they must contact you. But normally they are quite civil about it.

[GuyJean]

This is not new. The tax office monitors all large transfers coming into country and actually they can ask you for some quite detailed information, but they do not.

That's the thing; it was 50,000 yen.. I was surprised they'd give a shit about that amount.

GJ

[Greji]

[quote="GuyJean"]That's the thing]

It is the time of year when the new sayou sareta guys and gals of the shinjin gumi are getting their feet on the ground. 2 to 1 that's who called you GJ!

[Gilligan]

So is this law the reason that the bank personnel always seem so interested in what I'm go to do with the money I'm wiring back home?

[oyajikun]

I'm sure it was probably just one of the new graduates in training.

[dimwit]

They have always asked about where and why when I have been doing money transfers as far as I can remember so I assume this is holdover from old times when Japan had fixed exchange rates.

[Mulboyne]

A lot of banks in Europe ask the same questions. I went with a friend to Western Union in Nihombashi where he was picking up $70 and they asked him there too. They just want something to fill in the form and I recommended he say "accomodation charges" which the cashier looked visibly relieved to hear. I expect she spends a reasonable amount of time with people who see that question as an invasion of privacy. Always keep your answers anodyne but verifiable in the unlikely event you have to explain yourself later.

As an aside, the newish immigration forms for Japan ask you to indicate how much money you are bringing into the country. I've had several people strongly recommend that you prefix the sum you write with "about" since it seems that if you are specific but inaccurate then you could leave yourself open to some bureaucratic wrangling should you happen to be stopped on another matter.

Edit: Seems like there is a new bill under consideration:

Yomiuri: Lawyers rap cash-laundering bill

A draft bill requiring lawyers and real estate agencies to report suspicious money-linked transactions has been criticized by the Japan Federation of Bar Associations because of confidentiality issues...The bill was triggered by a new recommendation issued in 2003 by the Financial Action Task Force (FATF) of the Organization for Economic Cooperation and Development, which urged member countries to expand the mandatory reporting of suspicious transactions from financial institutions to other professions, including accountants, jewelers, lawyers, notaries public and real estate agents to cope with increasingly sophisticated forms of money laundering...more...