Press Conference by KATO Katsunobu, Minister of Finance and Minister of State for Financial Services

(Excerpt)

(Tuesday, February 18, 2025, 8:38 am to 8:42 am)

Q.

Through news gathering activities, TV Tokyo Corporation found a suspected case of theft involving money, etc. deposited by customers in safe-deposit boxes at Mizuho Bank, and we reported it last night. It is possible that the theft was conducted by an incumbent employee of the bank. According to the sources, the incidents occurred from 2020 to 2024. Mizuho Bank ascertained them by last December at the latest and made a report to the Financial Services Agency (FSA). Could you explain the facts, and what actions do you think the FSA should take?

A.

Firstly, I know of the news coverage you mentioned, but I would like to refrain from making any comment on matters that have not been published by individual financial institutions.

Q.

Relating to the last question, will there be any change in the FSA's approaches to the issue concerning safe-deposit boxes?

A.

I have no materials at hand now, so it may be somewhat inaccurate, but a series of misconduct concerning safe-deposit boxes has been revealed based on published cases. The first thing is to disseminate the importance of proper responses to this issue among financial institutions and have them take thorough measures. And as I have told you, the FSA will conduct deliberations on appropriate safe-deposit box services, also in relation to countermeasures against money laundering. There will be no change in such approaches of the FSA.