Japan’s Financial Bureau and Police Department Join Forces to Combat Crypto Crimes! Enhancing the Crackdown on Fraud and Money Laundering, with a Greater Focus on Law Enforcement.

The Financial Services Agency (FSA) of Japan recently announced that it is urging domestic financial institutions to strengthen their monitoring of “illegal transfers” involving cryptocurrency exchanges. This measure is based on a report from the National Police Agency of Japan, which revealed a significant amount of financial fraud losses related to illegal cryptocurrency transactions.