Japan’s Largest Bank Investigates Employee Theft of $6.6 Million from Deposit Boxes
MUFG Bank apologizes after uncovering a years-long scheme involving stolen cash and valuables from customers' safe deposit boxes at two Tokyo branches.
- Mitsubishi UFJ Financial Group (MUFG) confirmed that over ¥1 billion ($6.6 million) was stolen by a former employee from safe deposit boxes between April 2020 and October 2024.
- The thefts, verified so far for 20 of the 60 potentially affected customers, amount to ¥300 million ($2 million), with more claims under investigation.
- The employee, who managed the deposit boxes and their keys, admitted to using the stolen funds for personal investments and has been fired but not yet arrested.
- MUFG’s CEO, Junichi Hanzawa, issued a public apology, acknowledging the breach of trust and its impact on the bank’s reputation and customer confidence.
- The case follows a separate recent scandal involving criminal activity at another major Japanese financial institution, Nomura Holdings.
Associated Press 
The Japan Times 