Japanese Mizuho Bank is noticed in contacts with the yakuza

Filed under: Expert Security |

Japanese Financial Services Agency (FSA) obliged to interrupt Mizuho Bank contacts «with antisocial forces».

Mizuho Bank is noticed in contacts with the yakuza.

Mizuho Bank is noticed in contacts with the yakuza.

This term in official documents designate a Japanese mafia – «The Yakuza».

In the document FSA it is said that «antisocial forces» knew of granting by bank of the credits in 2011, however lately Mizuho Bank didn’t accept steps on the termination of the doubtful relations. Moreover, information on suspicious transactions wasn’t brought to the attention appropriate authorities.

In this regard FSA obliged bank to revise fundamentally internal normative documents and to strengthen supervision of transactions. Besides, Mizuho Bank has to define responsible for emergence of a problem and develop concrete measures which would allow to avoid its repetition in the future.

About the taken measures the bank is obliged to report to FSA until the end of the current year.

FSA exercises supervision of activity of banks and insurance company of Japan, trade in securities and foreign exchange operations. FSA also supervises activities of the Commission for supervision of securities and exchange trade and Council for supervision of the certified public accountants and audit.

Mizuho Bank is based in 1897 and is the second-large private bank of Japan. It has 515 offices, serves more than 26 million private investors and 90 thousand small and medium-sized enterprises.