MUFG Bank Head Apologizes for Safe Deposit Thefts by Ex-Employee

Tokyo, Dec. 16 (Jiji Press)--MUFG Bank President Junichi Hanzawa on Monday apologized for thefts by a then employee of customer assets worth more than 1 billion yen in total from safe deposit boxes.

"We take the incident seriously and recognize that it undermines trust and confidence, which are the foundations of the banking business," Hanzawa told a news conference. "We sincerely apologize to customers and related people."

Hanzawa said the bank will consider punishments for him and other executives while investigating the scandal. "Identifying the true cause and drawing up and implementing preventive measures is my greatest duty," he noted.

The news conference was the first held by the major Japanese bank since the scandal, currently under police investigation, was made public on Nov. 22.

According to the bank, the then employee took the assets of about 60 customers from safe deposit boxes at its Nerima and Tamagawa branches in Tokyo between April 2020 and October 2024, using the spare keys stored at the branches.

[Copyright The Jiji Press, Ltd.]