FSA to Order Mizuho Bank to Report on Nationwide ATM Failure

Politics

Tokyo, March 1 (Jiji Press)--Japan’s Financial Services Agency decided Monday to issue an order under the Banking Act for Mizuho Bank to report on a system failure that left its customers unable to withdraw cash from ATMs across the country on Sunday, informed sources said.

The FSA appears to take seriously the situation in which Mizuho customers were also unable to take out their cash cards and passbooks from ATMs.

The agency is expected to demand the bank report in detail on the circumstances and cause of the failure, which also suspended internet banking services.

The bank has explained that the failure was due to a defect that occurred during work to update time deposit data. The FSA is expected to seek a detailed investigation into the cause.

The agency also plans to urge the bank to take all possible measures for customers whose cash cards and passbooks were not returned.

[Copyright The Jiji Press, Ltd.]

Jiji Press