The number of money laundering cases in Japan has increased
On February 28, the National Police Administration (NPA) disclosed that in 2018, more than 7,000 cases of money laundering involving cryptocurrency were reported, according to Mainichi Japan. The figure sounds even more alarming when you consider the tenfold increase since 2017.
The attackers used different tactics - from forging an identity card to transferring money from abroad. However, in more than 417,000 cases of cryptocurrency makes up only a small percentage of all remittances related to money laundering or other illegal activities. The lion's share of all suspicious transactions was reported by banking institutions.
It is reported that to reduce the number of suspicious transactions, NPA will begin to use AI-based technologies that will help detect illegal transactions. With regard to cryptographic protection, it is expected that the figures for 2019 will also decline, since the NLA will more “strictly” track all suspicious transactions after it forces the exchange to comply with AML rules.
However, the massive robbery of digital currency should not come as a surprise, given that cryptogall currency has become even more popular in the Land of the Rising Sun. The Japanese yen recently surpassed the US dollar in daily bitcoin trading.
