June 18 2019
Japan Post Bank Co. plans to set a limit on over-the-counter international cash transfers of ¥5 million ($46,000) to combat money laundering, sources close to the matter said Tuesday.
Japan Post Bank, with around 120 million account holders, the most among domestic banks, currently has no limit on overseas remittances and is seeking to address concerns that such transfers could be used for illicit activities, including the financing of terrorism, the sources said.