Sumitomo Mitsui Banking ordered to report a system problem

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Policy

Tokyo, May 10 (Jiji Press)–Japan’s Financial Services Agency has ordered Sumitomo Mitsui Banking Corp. and its parent company, Sumitomo Mitsui Financial Group Inc., to report a system failure that disrupted ATM services during the Golden Week holiday period, according to informed sources.

Under the banking law, the agency ordered the bank and its parent company to report on the cause of the problem and how they treated the affected customers, urging them to take preventive measures, said the sources on Monday.

On the evening of April 30, connections between Sumitomo Mitsui’s central banking system and ATMs became unstable. The issue made it difficult to perform transactions through Sumitomo Mitsui’s ATMs using payment cards from other banks. Customers trying to make deposits for cashless settlement services were also affected.

As the problem had a widespread influence on customers, the agency felt it would be necessary to verify what had happened by asking the bank and its parent company to submit reports.

TO FINISH

[Copyright The Jiji Press, Ltd.]

Jiji Press

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