Financial Crime World

Japan Launches Groundbreaking Financial Crime Compliance Training Program in Partnership with OECD

Tokyo, JAPAN - A Major Step Forward in Combating Illicit Financial Flows

In a significant move aimed at bolstering regional efforts to combat illicit financial flows, the Organisation for Economic Co-operation and Development (OECD) has collaborated with Japan’s National Tax Agency to establish the Asia-Pacific Academy for Tax and Financial Crime Investigation.

A New Era in Financial Crime Compliance Training

Signed in June 2019, a Memorandum of Understanding between the OECD and the National Tax Agency marked the inception of this cutting-edge training program. Situated at the Wako Campus of the National Tax College, the academy serves as a hub for delivering specialized courses to law enforcement officials and financial crime investigators across the Asia-Pacific region.

The Academy’s Curriculum

The curriculum has been tailored to address pressing issues in the region, including:

  • Digital Forensics: Understanding and investigating digital evidence to track illicit activities.
  • Anti-Money Laundering (AML): Identifying and preventing money laundering schemes to combat financial crime.
  • Crypto Assets: Staying ahead of emerging trends and technologies in cryptocurrency and blockchain.
  • VAT/GST Fraud: Combating Value-Added Tax and Goods and Services Tax evasion, a growing concern for tax authorities worldwide.
  • Asset Recovery: Recovering assets seized from individuals involved in financial crime.

Inaugural Program Focused on VAT/GST Fraud

The inaugural program, launched in May 2019, focused on combating VAT/GST fraud. This marked the beginning of the academy’s efforts to equip law enforcement officials and financial crime investigators with the skills and knowledge needed to tackle this pressing issue.

A Strategic Partnership for Regional Cooperation

By harnessing international best practices and expertise, the Asia-Pacific Academy is poised to become a leading center of excellence for financial crime compliance training in Japan and beyond. This strategic partnership underscores the OECD’s commitment to supporting regional cooperation and capacity building in the fight against illicit financial flows.