Opinions on FATF Consultation Paper on Gatekeepers

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Japan Federation of Bar Associations
July 18, 2002

Contents

I. Fundamental View of JFBA

1. Confidentiality Obligation of the Attorney is Fundamental to the Existence of the Profession   ・・・・・・・・1
2. The Risk that the Reporting Obligation May Destroy the Public's Confidence in the Attorney   ・・・・・・・・2
3. JFBA's Money Laundering Policy   ・・・・・・・・3
4. JFBA's Internal Money Laundering Policy   ・・・・・・・・3
5. JFBA Opposes the Obligation to Report Suspicious Transactions   ・・・・・・・・4

 

II. JFBA's Opinions on FATF Consultation Paper

1. Introduction   ・・・・・・・・5
2. Occupations Subjected to Reporting Obligation   ・・・・・・・・6
3. Identification of Clients   ・・・・・・・・7
4. Reports of Suspicious Transactions and Further Obligations   ・・・・・・・・8
5. Internal Reports   ・・・・・・・・9
6. Regulations and Supervision   ・・・・・・・・10