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Japan plans tighter scrutiny of fintech strategies

Tokyo looks to address potential problems while supporting innovation

TOKYO -- Japan's Financial Services Agency will increase oversight of how domestic institutions use information technology, looking to identify regulatory concerns even as it promotes innovation in financial technology.

Starting in July, the watchdog agency's inspections of banks and other institutions will include a checklist examining areas such as executive understanding of the importance of information technology and the establishment of proper IT systems management.

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