The Japanese Cabinet on Friday approved a bill to revise the law on criminal proceeds, seeking to strengthen penalties for bank account trading to curb money laundering amid a recent surge in fraud losses.Anonymous, loosely coordinated criminal groups use multiple bank accounts, illegally obtained through social media, to transfer money earned from criminal activity to avoid being caught.The government of Prime Minister Sanae Takaichi plans to submit the bill to the ongoing Diet session, which also penalizes those who transfer defrauded money to designated accounts in exchange for rewards.T…READ FULL ARTICLE
