TOKYO (AP) — Japan’s largest bank apologized Monday for an employee’s alleged theft of more than 1 billion yen ($6.6 million) from customers’ safe deposit boxes.
The bank, formally known as Mitsubishi UFJ Financial Group, Inc., said Monday it was investigating and confirmed that thefts from about 20 of the 60 customers believed to have been affected amounted to 300 million yen (nearly $2 million). Compensation was underway, he said.
The thefts took place at two branches of the bank in Tokyo from April 2020 until late October this year, when the problem was discovered.
MUFG President and CEO Junichi Hanzawa told reporters that the female employee responsible for managing the lockers and their keys is suspected of abusing that position to steal cash and other valuables.
“The case has undermined customer confidence and shaken the foundations of our banking business,” Hanzawa said. He apologized for causing concerns and problems to MUFG customers.
MUFG said the employee admitted to taking the money and using it for investments and personal purposes. She was fired and cooperated with the bank’s internal investigation and a police investigation, but has not yet been arrested.
After news of the thefts came to light, dozens more people came forward with claims of suspected losses that the bank is trying to verify, the bank said.
The MUFG case is the second recent case involving criminal activity at a major Japanese financial institution. In November, Nomura Holdings acknowledged that a former employee had been arrested on suspicion of robbery, attempted murder and arson targeting a client in Hiroshima.
Asked about the MUFG thefts, the government spokesman said Monday that banking operations require a high level of trust and a sense of public service.
The case was “extremely regrettable,” Chief Cabinet Secretary Yoshimasa Hayashi said.
