The Financial Services Agency (FSA) of Japan has recently announced that it is urging domestic financial institutions to strengthen their monitoring of “illegal transfers” involving cryptocurrency exchange providers. This measure is based on a report from the National Police Agency of Japan, which shows a significant correlation between financial fraud losses and illegal cryptocurrency transactions.
"Japan's Financial and Police Authorities Join Forces to Combat Crypto Crime! Enhancing Crackdown on Fraud and Money Laundering, with a Stronger Focus on Enforcement"