Mizuho ordered by gov't to improve operations after system failures

Politics Economy

Japan's financial authorities ordered Mizuho Bank and its parent Mizuho Financial Group Inc. Friday to improve their operations and clarify management's responsibility for a series of system failures this year. The Financial Services Agency, the country's financial watchdog, issued a business improvement order to the companies, while the Finance Ministry ordered the bank to take corrective actions, judging that proper anti-money laundering procedures were not taken in foreign currency remittances in the wake of its eighth system glitch on Sept. 30. Mizuho Financial President Tatsufumi Sakai an...

Kyodo News

Kyodo News