News about Japan

[Tom MoodyParticipant]

Mizuho Bank says worker stole safe-deposit box valuables in 2019

Mizuho Bank said Tuesday safe-deposit box valuables worth tens of millions of yen belonging to two customers were stolen in 2019 by an employee, following a similar incident reported by another Japanese megabank last year.

Mizuho Bank had not made the incident public “in consideration of its relationship with customers,” an official said. The employee involved in the theft has already been dismissed but the bank did not disclose whether any criminal action was taken.

The bank reported the incident to the Financial Services Agency and took measures for the victims. It also reviewed the storage practice of keys to prevent a recurrence of such incidents, it said.

“We will consider further enhancing our management system,” the official said.

The theft came to light after the bank in principle suspended accepting applications for use of safe-deposit boxes in January.

Finance Minister Katsunobu Kato refrained from commenting on the case but said the government will urge financial institutions to take necessary steps.

The revelation comes after MUFG Bank said last year there were thefts from safe-deposit boxes at branches, leading to the arrest of a former employee.

A Tokyo-based credit union also said last year that one of its male employees had illegally made a duplicate key and stolen cash from a safe-deposit box.

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