Suspicious cash transactions hit record high; most get no police action


Reports of suspicious financial transactions reached a record high in 2015, the National Police Agency said Thursday.

The cases, which include suspected money laundering, rose 5.8 percent from the previous year to 399,508, the police said.

Police examined 6,308 of the reports and took action in 1,096 cases, also a record high. Eighty percent of the action cases were linked to fraud.

A total of 259,038 reports were utilized in the fight against organized crime.

Of the total, 389 involved the police taking action for money laundering linked to organized crime and drug abuse, a 30 percent increase.

Crime syndicates were involved in 94 of the cases, including black-market lending linked to Kudo-kai, a yakuza group based in the southwestern city of Kitakyushu.