Japan Takes Lead in Combating Financial Crimes with OECD’s Asia-Pacific Academy

============================================================

In a significant move to combat financial crimes and illicit flows, Japan has signed a Memorandum of Understanding with the Organisation for Economic Co-operation and Development (OECD) to establish the OECD Asia-Pacific Academy for Tax and Financial Crime Investigation.

Launching the Academy

The academy was launched in June 2019 at Wako, Japan, and is housed within the National Tax College campus of the National Tax Agency. This initiative marks a significant step forward in the global fight against financial crimes, with Japan taking a leading role in establishing this specialized training institution.

Programs Offered

The academy’s programs are designed to cater to the specific needs of countries in the Asia-Pacific region, drawing on international best practices and experiences in tackling financial crimes. The range of courses offered includes:

• Broad-based training on conducting and managing financial crime investigations
• Targeted sessions on combating:
  • Anti-money laundering
  • Crypto asset challenges
  • VAT/GST fraud
  • Asset recovery

Success Story: VAT/GST Fraud Program

The first program was successfully delivered in May 2019, focusing on VAT/GST Fraud. This initiative underscores Japan’s commitment to strengthening its financial investigation capabilities and international cooperation in the fight against financial crimes.

OECD Asia-Pacific Academy’s Role

The OECD Asia-Pacific Academy is poised to play a vital role in this endeavor, providing specialized training and expertise to law enforcement agencies and tax authorities across the region. The academy is well-positioned to make a significant impact in the global effort to combat financial crimes, and Japan’s leadership in establishing this institution will undoubtedly be felt for years to come.