Japan’s Financially Criminal Underworld: Yakuza and Large-Scale Fraud Cases
In the economic powerhouse of Japan, financial crimes pose a significant threat to both individuals and the overall economy. A recent study published in the Asian Journal of Criminology sheds light on two major perspectives of financial crime in Japan: large-scale investment frauds and the involvement of organized crime groups, notably the Yakuza.
The History and Intricacies of Large Investment Frauds
Financial crime in Japan is a far-reaching issue, leading to considerable loss and damage that extends beyond monetary aspects. The paper, authored by Tomomi Kawasaki of Doshisha University, delves into the history and intricacies of large investment frauds (source 1), dating back to the post-war era.
::: {.tip} :tip: [footnoteref:1]: This footnote reference denotes the first reference in the bibliography section, which is provided at the end of this article. :tip: :::
The Role of Yakuza in Financial Offenses
Organized crime groups, most notably the Yakuza, have been involved in various financial offenses, perpetrating illegal activities that not only target individual victims but also contribute to the destabilization of the Japanese economy. Some major financial offenses include:
- Loan sharking (yamikin)
- Extortion from shareholders (sokaiya)
- Harassment and intimidation of tenants (jiageya)
- New forms of Yakuza money crimes
::: {.warning} :warning: Note that the term “money crimes” refers to the financial activities of organized crime syndicates, also known as “organized crime’s economic arms” (source 2). :warning: :::
Persistent Challenge and Evolution
Despite advancements in legislation and law enforcement, Yakuza-related financial crimes remain a persistent challenge and evolve in response to changing economic circumstances and regulatory frameworks. To stem the tide of white-collar crime in Japanese society, the research advocates for more comprehensive legislation that targets all forms of investment fraud and addresses the complex nature of organized crime groups’ financial activities.
Implications for Global Financial Systems
As global financial systems continue to evolve, understanding the patterns and underlying dynamics of financial crime in Japan becomes crucial for devising effective countermeasures. The study invites further research and conversation regarding the economic and social implications of financial crime in Japan.
::: {.references} :references: References:
- Source 1: (Title of the source).
- Source 2: (Title of the source). :references: :::
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