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Japan watchdog and BOJ to assess banks on anti-money laundering

Global task force to cite regional lenders for inadequate ID verification

The BOJ will assist Japan's Financial Services Agency in assessing banks' efforts to stymie money laundering. (Photo by Akira Kodaka and Mamoru Yago)

TOKYO -- Japan's financial regulator and central bank will launch a sweeping investigation into how well anti-money laundering measures work at regional banks and other local financial institutions, Nikkei has learned.

The probe, which comes amid a spate of fraudulent money transfers in the country, could get underway this summer.

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