The Financial Services Agency (FSA) plans to roll out an artificial intelligence system that can detect fraudulent money transfers at financial institutions nationwide as early as fiscal 2021 in an effort to strengthen measures against money laundering, The Yomiuri Shimbun has learned.

JAPAN’S Financial Services Agency (FSA) plans to enforce regulatory measures as soon as this week on Coincheck Inc, a major cryptocurrency exchange, after NEM currency then valued at 58 billion yen was illegally withdrawn from its customers’ accounts, according to informed sources.