:::::::IMPORTANT UPDATE::::::: I have been contacted by a representative of Higo Bank. We will be meeting on Monday morning but I can report that the bank is willing to be much more flexible than the letter we received would seem to indicate. In particular, am happy to report that I was told that it will not be necessary to appear in person if we can send copies of the required documents to the bank via the mail. On the phone I got the impression that they will be willing to be flexible regarding the deadline as well, particularly if they are contacted about the matter. I’ll hear more about how they can work with us in that regard on Monday. In preparation for the meeting, I’ll review all of the comments that have been made to Ruth’s original post and to this post and then make sure that all questions are addressed when I meet with the representative. If there is anything else you would like me to ask when I meet with the representative on Monday, please send me a personal message or put your thoughts in a comment to this post. :::::::END OF UPDATE:::::::
Kirk here. I’m grateful to Ruth for posting about the letter from Higo Bank:
I think it’s an important issue and I haven’t been able to stop thinking about it recently. In part to get some closure so that I can concentrate on other work, and in part to let the folks at Higo know that they can’t treat us like dirt without getting an earful about it, I went ahead and wrote two versions of a public letter asking for clarification. These are just drafts but I wonder if any of you have any thoughts, pro or con, about my idea of sending the president of the company a public letter demanding a better explanation.
— start English draft — Dear Mr. Kasahara,
In early November of this year, foreign customers of your bank were notified of a requirement to appear in-person to present documents based on “measures to prevent money laundering and terrorist financing.” The deadline set for these procedures is December 29, 2023, and the notice states that if the procedures are not completed by this date, certain restrictions will be imposed on the use of our accounts. We have some questions regarding the sudden issuance of this notice and the short time frame given to comply. We request a written response by December 1, 2023.
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The guidelines issued by Financial Services Agency, to which you referred to in your notice, are dated February 19, 2021. Why has it taken you until now to take steps to comply with those guildlines and why was it necessary to issue the deadline of December 29, 2023 at such short notice?
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All financial institutions must comply with the guidelines from the Financial Services Agency that you cited but Higo bank’s response differs from that of other institutions. Are there any circumstances specific to your bank that might explain the specific timing and nature of your response?
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The letter we have received states that we must present the documents in person at the bank. This represents a significant burden to us. Because the bank’s service hours are limited, it may be difficult for some of us to complete these procedures without taking time off from work. Is there a reason why you cannot allow documents to be submitted via the post? — end English draft —
The Japanese text has several problems I’ve already noticed but here’s the text I had when I made the draft documents.
次の日本語にいくつかの問題があることに気づいており、今後修正いたします。この投稿を準備した際の下書きは次のとおりでした。
— start Japanese draft — 今年の11月上旬に、貴行より「マネー・ロンダリング及びテロ資金供与の防止策」に基づく、窓口での手続きのご案内が外国人の顧客に通知されました。指定された期限は2023年12月29日であり、期限までに手続きを完了しない場合には口座の利用に一定の制限が生じる旨が記されております。突然の通達と要求に関して、以下の質問をさせていただきます。2023年12月1日までに、文書でのご返答を賜りたく存じます。
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金融庁のガイドラインは令和３年２月19日付けでありますが、なぜこの時期に年内の締め切りを設定されたのか、その経緯と具体的な根拠をご説明いただけますでしょうか。
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他の金融機関も同様のガイドラインに従っているかと存じますが、対応が異なる理由について、貴行の事情をお教えいただけますでしょうか。
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書類の郵送不可とされ、窓口での手続きを求める方針には、顧客にとって大きな負担が伴います。特に、窓口の営業時間が短いため、多くの顧客が業務時間内に手続きを行うことが困難である可能性があります。この点に関し、郵送やデジタル手段を含む他の方法による確認作業の可能性についてもご検討いただけないでしょうか。
何卒、ご多忙の折り恐縮ではございますが、ご対応のほどよろしくお願い申し上げます。 — end Japanese draft —