Japan Regulator Widens Probe Into Crime Loans by Big Banks
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Japan’s financial regulator plans to inspect the nation’s three largest lenders, widening a probe into credit given to gangsters to include Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc.
The inspections are to determine whether their banking units are complying with rules including those meant to curb transactions with criminal organizations, Hiroki Kato, an official at the Financial Services Agency, said by telephone yesterday. The reviews will start Nov. 5, another FSA official said, declining to be identified because of the agency’s policy.