Scandal at Japan's Largest Bank: MUFG Employee Steals Billions

Japan's largest bank, MUFG, has apologized for an employee's theft of over 1 billion yen from customers' safe deposit boxes. The thefts, occurring since 2020, involved 20 confirmed cases totaling 300 million yen. The employee admitted to the crime and was fired amid ongoing investigations.

Japan's leading bank, Mitsubishi UFJ Financial Group (MUFG), has issued an apology for a significant breach of trust involving the alleged theft of over 1 billion yen by an employee from customers' safe deposit boxes.

Affected clients have so far verified thefts totaling nearly 300 million yen, with more potential victims coming forward. The theft reportedly occurred at two Tokyo branches since April 2020, with the bank's president expressing regret for the compromised trust.

The former employee, dismissed and cooperating with investigations, allegedly used the stolen funds for personal investments. This incident follows a similar scandal at another major financial institution in Japan.

(With inputs from agencies.)