Financial Crime World

Japan Takes the Lead in Combating Financial Crime with Forensic Analysis Training

The Organisation for Economic Co-operation and Development (OECD) and Japan’s National Tax Agency have signed a Memorandum of Understanding to establish the OECD Asia-Pacific Academy for Tax and Financial Crime Investigation in Wako, Japan.

A Major Boost to International Cooperation

This initiative is a significant step towards strengthening international cooperation against financial crime. The academy will provide specialized training to law enforcement agencies and financial authorities across the Asia-Pacific region, addressing specific challenges faced by countries in the region, including combating illicit financial flows.

Cutting-Edge Training Programs

The academy’s curriculum includes comprehensive courses on conducting and managing financial crime investigations, focusing on advanced digital forensics techniques. Additionally, targeted training modules will cover high-priority areas such as:

  • Anti-money laundering
  • Cryptocurrency fraud
  • Value-Added Tax (VAT) and Goods and Services Tax (GST) fraud
  • Asset recovery

First Program Focuses on VAT/GST Fraud

The academy’s first program, launched in May 2019, concentrated on VAT/GST fraud, a major concern for governments worldwide. This initiative demonstrates Japan’s commitment to sharing its expertise and resources with other countries in the region.

Japan’s Leadership Role in Combating Financial Crime

With this initiative, Japan is poised to take a leading role in the global fight against financial crime. The academy will leverage Japan’s expertise and resources to share best practices with other countries in the region, promoting international cooperation and strengthening the global response to financial crime.

Key Takeaways

  • The OECD Asia-Pacific Academy for Tax and Financial Crime Investigation is a joint initiative between the OECD and Japan’s National Tax Agency.
  • The academy will provide specialized training to law enforcement agencies and financial authorities across the Asia-Pacific region.
  • The curriculum includes comprehensive courses on conducting and managing financial crime investigations, focusing on advanced digital forensics techniques.
  • Targeted training modules will cover high-priority areas such as anti-money laundering, cryptocurrency fraud, VAT/GST fraud, and asset recovery.