Money Laundering Battle Drives Japan Banks to JPMorgan’s Network
- More than 80 banks intend to join blockchain-based network
- IIN may help banks combat money laundering: JPMorgan’s Sanai
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JPMorgan Chase & Co.’s blockchain-based information network for payments is drawing the greatest interest in Japan, a country long blamed for weak measures against money laundering.
More than 80 Japanese banks have expressed a willingness to join the Interbank Information Network, said Daizaburo Sanai, an executive director at the U.S. firm. That’s the most from any single country among the more than 360 lenders on the network worldwide.