The national police Agency of Japan (NPA) reported that in 2018, recorded over 7,000 cases of laundering of money through cryptocurrency. This figure is 10 times higher than in 2017. It is reported by The Mainichi.
Despite such rapid growth, the laundering operations are still conducted by banks. Just last year, there were 417 000 suspicious transactions. However, only 1.7% of cases was used cryptocurrency.
To improve the effectiveness of suspicious activity in the financial sector, the NPA intends to use solutions based on artificial intelligence.
Note that the cryptocurrency in Japan will eventually become more and more popular. For example, in commercial transactions with bitcoin Japanese yen was used more often than the U.S. dollar:
It is noteworthy that in the top 5 of the rating includes the Turkish Lira. According to Trading Economics, the annual rate of inflation in Turkey exceeds 20%.
ForkLog previously reported that the Japanese government firmly intend to take up unregistered cryptocurrency company.