Japan's largest bank apologizes over theft of millions of dollars from safe deposit boxes

TOKYO (AP) — Japan’s biggest bank apologized Monday for the alleged theft by an employee of more than 1 billion yen ($6.6 million) from customers’ safe deposit boxes.

The bank, formally known as Mitsubishi UFJ Financial Group, Inc., said Monday that it was investigating and that verified thefts from about 20 of the 60 clients thought to have been affected amounted to 300 million yen (nearly $2 million). Compensation was being worked out, it said.

The thefts occurred at two Tokyo branches of the bank, from April 2020 until the end of October this year, when the problem was discovered.

MUFG’s president and CEO Junichi Hanzawa told reporters the female employee responsible for managing the safe deposit boxes and their keys is suspected of taking advantage of that position to steal cash and other valuables.