Mizuho Bank Hit by Another System Problem

Economy

Tokyo, Dec. 30 (Jiji Press)--Money transfers through Mizuho Bank automated teller machines and its online banking service to other banks became temporarily unavailable on Thursday afternoon.

The problem is believed to have been caused by a human mistake in system settings, sources familiar with the situation said.

The incident is the latest in a series of system failures that hit the core unit of Mizuho Financial Group Inc. <8411> this year. As the problem occurred in the year-end period, when many customers use banking services, Mizuho Bank looks certain to face renewed criticism, pundits said.

The erroneous settings in question involved the system for processing money receipt transactions at night and on holidays.

The money transfer service was unavailable for about one hour from around 3:30 p.m. (6:30 a.m. GMT). Mizuho Bank is currently processing the transfer orders received during the period. The number of affected transactions was not disclosed.

[Copyright The Jiji Press, Ltd.]

Jiji Press