Mizuho Bank warned not to do business with the yakuza

Government says bank not doing enough to stop this.

The Financial Services Agency scolded Mizuho Bank, the country’s third largest bank, for continuing to lend money to gangsters such as the yakuza and for not taking substantial steps to halt this practice.

FSA said Mizuho Bank has made little progress in tackling the problem. It noted the bank had processed hundreds of transactions worth some US$2 million for what it called "anti-social forces," a polite term for Japan's yakuza gangsters.

It warned Mizuho Bank two years ago to discontinue these business transactions and pointed to "serious problems" with the bank’s compliance monitoring.

FSA gave Mizuho Bank one month to draft a plan to address the issue. In response, the bank said it takes this order very seriously and deeply regrets these occurrences.

Mizuho expresses its deepest and most sincere apologies to its clients and all related parties for any concern or inconvenience this may have caused.