Upper house passes bill against financing terrorism

Japan Policy & Politics, June 10, 2002

TOKYO, June 5 Kyodo

The House of Councillors on Wednesday by majority vote passed and enacted a bill to bar financing for terrorists.

The bill calls for a maximum prison term of 10 years or a fine of 10 million yen for those who help finance terrorists, regardless of whether the money is used in terrorist acts or not, and for those receiving the funds.

The bill is in line with the U.N. Convention for the Suppression of the Financing of Terrorism, which the Japanese government is preparing to ratify. The government has signed the convention in October 2001 and has been in the process of bringing its domestic laws in line with the pact.

Another bill drafted by the Financial Services Agency which requires financial institutions to confirm the identity of people making large-lot financial transactions has already passed the Diet and has been enacted.