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.
