Representatives of the National Police Agency of Japan said that between January and October of this year, 5,944 messages from crypto-exchangers about suspicious cryptocurrency transactions, possibly related to money laundering and tax evasion, were registered, as reported in Jiji Press.
Figures published by Jiji Press show that in 699 cases that were reported last year, suspicious activity increased more than eight times. This, according to NPA (National Police Agency), is proof that the operators of Japanese exchangers are working with greater responsibility.
According to a report in the Japan Times information magazine, 699 cases of suspicious cryptocurrency transactions were recorded from April to December last year. Earlier this year inf. CCN reported that: "(...) although last year more than 660 million yen were stolen due to cryptocurrency exchangers and certain types of wallets, this figure increased by more than 60 billion yen only in the first half of this year (...) After these alarming discoveries in April introduced new laws requiring crypto-exchanges to identify customers and report all suspicious currency transactions (...)" – From the CCN article, dated September 20, 2018.
Japanese police and "suspicious"сtransactions
On December 6th, in The Mainichi, a daily newspaper, an NPA spokesman, explained that increased collaboration on crypto-exchange platforms is the driving cause of the increase in suspicious activity reports.
"It has been some time since the reporting system began (...) it was actively supported by the management of the Financial Services Agency"
It should be recalled that in April 2017, the Japanese authorities introduced a regulatory regime for the exchange of cryptocurrencies. According to them, the stock-exchanges reported any suspicious transactions. Industry regulation is associated with a high percentage of money laundering through crypto-assets.
Since the beginning of the law, the regulatory and law enforcement agencies of Japan have begun to include in their investigations reports on suspicious activities of exchangers. On Thursday, December 6, the National Commission for Public Security also published a report on the recorded cases of illegal transfer of money through cryptocurrency.
From the NPA law "About suspicious cryptographic transactions": "Suspicious is considered: the reuse of a single photo of a person by several users with different names and dates of birth; the use of several tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details accounts initiated from the same IP address; users from abroad with accounts and addresses of Japan; registration of non-working mobile phone numbers".
The Japanese police, registering a surge in "suspicious" cryptocurrency activity, began an active check of accounts, amounts of money transferred, as well as persons associated with transactions.
Editor: Alyona Nabok