2,700 Fund Transfers Affected by Mizuho Service Disruption

Economy

Tokyo, Dec. 31 (Jiji Press)--Thursday's service disruption at Mizuho Bank has caused delays in about 2,700 fund transfers to other banks, Mizuho officials said Friday.

The bank's services for money transfers to other banks using its automated teller machines and online banking platform became partially unavailable for about an hour from around 3:30 p.m. Thursday (6:30 a.m. GMT).

Of the 2,700 transactions, 2,400 were executed within Thursday, with the remainder set to be completed between Friday and Tuesday, according to the officials.

The disruption "was not caused by a system glitch but by a human error in settings related to the processing of money receipt transactions at night and on holidays," an official said.

At Mizuho Bank, eight system glitches had occurred since February 2021. In response, the Financial Services Agency has issued business improvement orders to the bank and its parent, Mizuho Financial Group Inc. <8411>.

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