Japan to freeze terrorist-related assets

TOKYO -- The Japanese Cabinet Monday gave a green light to a bill aimed to freeze assets held in Japan by individuals and organizations related to terrorist activities in a move to fight against terrorism, according to local media.

The bill is expected to regulate financial and real-estate transactions in Japan by 89 terrorist groups and 360 activists, such as al-Qaida and Islamic State extremists, according to Japan's Kyodo News, adding no domestic groups have been designated to be subject to asset freezes.

The government hopes to have the bill approved during the extraordinary Diet session through late November as Japan was urged by the Financial Actions Task Force, an intergovernmental group aimed at eliminating terrorist financing, to block the transfer of money linked to terrorism, said the report.

If the bill was enacted, it will impose a maximum one-year prison sentence or a fine of up to 500,000 yen ($4,632) on people who defy the orders and repeatedly make transactions with a terrorist group or those who are involved in terrorist activities, said Kyodo.

A total of 71 groups, including al-Qaida, and 352 people listed by the UN Security Council Sanctions Committees will be subject to the law. The list also includes 18 groups and eight individuals selected by the Group of Seven nations based on UN resolutions, according to the report.

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