Encompass, Nikkei MM Ally for Japanese KYC Compliance

Users will have access to news and corporate data from Nikkei MM for KYC and AML compliance, and the ability to monitor their exposure to entities or individuals linked to the Yakuza.

Encompass
Yutaka Omura, CEO at Nikkei Media Marketing (left) and Paul Charmatz, managing director at Encompass Corporation (right), after inking their partnership.

The move is in response to higher demand for regulatory solutions in Japan, reflecting increased regulatory activity. The Financial Services Agency of Japan introduced the Act on Prevention of Criminal Proceeds in 2016, which set out anti-money laundering (AML) measures and new standards for regulated firms around customer onboarding and monitoring, including KYC, customer due diligence and enhanced due diligence.

“In a more stringent regulatory environment we are seeing increased demand for

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