To ensure that no more loans are made to organized crime groups, Mizuho Bank is considering setting up a special organization and bringing in an outside board member to strengthen supervision, sources said Sunday.
The compliance division of the banking unit of Mizuho Financial Group Inc. has been in charge of preventing illicit lending, but the bank now sees the need for an independent organization, the sources said.
After an inspection uncovered 230 transactions with "anti-social" groups involving more than ¥200 million, the Financial Services Agency ordered Mizuho Bank on Sept. 27 to improve its operations.