Tokyo: A record 583,317 suspected money laundering transactions were reported to Japanese authorities in 2022, up 53,167 from the previous year, National Police Agency data showed Thursday.

The number is a total of cases reported to government organizations by financial institutions and others entities required to make such reporting under the law against transfer of proceeds from crimes.

Reports by funds transfer service providers, which offer cashless payment services, nearly doubled to a record 20,271 cases, and those by cryptocurrency exchange operators grew by 3,010 to a record 16,550. Still, reports by banks accounted for 70 pct of the total.

Police made arrests or took other law enforcement action on 994 of the total cases, mostly fraud cases, down by 51 from the previous year. Of them, 130 involved gang groups.

JIJI Press