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Information Sharing with the Private Sector under Anti-money Laundering and Countering the Financing of Terrorism Regulations

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  • ISHII Yurika

Abstract

Financial institutions and other entities find it beneficial to exchange customer identities and criminal risk data to enhance the effectiveness of money laundering and anti-terrorism regulations. Therefore, the Financial Action Task Force (FATF) recommends sharing relevant information among private companies. Additionally, some countries and operators are exploring the consolidation of information and utilization of artificial intelligence and other technologies to identify suspicious transactions. However, implementing cross-border regulations requires robust international collaboration. Unilaterally imposing mandatory information sharing on operators could conflict with national privacy, human rights norms, and data protection laws. This study delves into how various countries are addressing these challenges in the current context and analyzes the implications for international legal frameworks.

Suggested Citation

  • ISHII Yurika, 2024. "Information Sharing with the Private Sector under Anti-money Laundering and Countering the Financing of Terrorism Regulations," Discussion papers 24010, Research Institute of Economy, Trade and Industry (RIETI).
    • Handle: RePEc:eti:dpaper:24010
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