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The Regulation of New Forms of Electronic Fund Transfers in Japan Focusing on Electronic Money

The Regulation of New Forms of Electronic Fund Transfers in Japan Focusing on Electronic Money
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Author(s): Takashi Nakazaki (Anderson Mori and Tomotsune, Japan)
Copyright: 2009
Pages: 26
Source title: Electronic Business: Concepts, Methodologies, Tools, and Applications
Source Author(s)/Editor(s): In Lee (Western Illinois University, USA)
DOI: 10.4018/978-1-60566-056-1.ch154

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Abstract

In this chapter, after surveying existing Japanese public laws that regulate the transfer of funds via the Internet, and focusing on electronic money in particular, It will be discussed how these existing regulations may apply to new electronic payment methods that may not have been accounted for when these regulations were established, whether the regulations are sufficient to both provide convenience to the user and protect their safety, and whether these regulations are desirable as business conditions for developing electronic money. Through these discussions, certain objectives will be developed, which should be taken into account when developing regulations in Japan on the transfer of funds via the Internet. Also, this chapter discusses anti-money laundering regulations applicable to transfers of funds on the Internet, focusing on electronic money, and will examine how Japanese money laundering regulations may apply to cross-border transfers of funds using overseas electronic money services. Through this examination, the chapter will attempt to suggest desirable money laundering regulations on domestic electronic money in the near future. Furthermore, this chapter discusses real money trade and point-rewarded programs in view of function of payment or transferring funds electronically in extended research sections, and closes by predicting future research directions.

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