Aeon Bank Gets Biz Improvement Order

Tokyo, Dec. 26 (Jiji Press)--Japan's Financial Services Agency issued a business improvement order to Aeon Bank on Thursday accusing it of deficiencies in its fight against money laundering.

Aeon Bank became the first bank to receive administration action as part of the FSA's intensive inspections of financial institutions' efforts to prevent money laundering that have been underway since 2021.

The FSA gave Aeon Bank until the end of January to submit an improvement plan.

The agency said that there were at least 14,639 transactions that Aeon Bank left unchecked in its anti-money laundering monitoring.

The FSA said the involvement of Aeon Bank's board and management in anti-money laundering efforts was insufficient.

[Copyright The Jiji Press, Ltd.]