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Acom also admits extending shady loans to yakuza

Kyodo

Acom Co., a consumer loan company under Mitsubishi UFJ Financial Group Inc., said Thursday it has extended several loans to individuals linked to organized crime and other anti-social forces, becoming the latest in a string of lenders to own up to the practice.

Acom President Shigeyoshi Kinoshita said at a news conference that the company is seeking repayment but declined comment on how much it loaned to those clients.

“Our basic policy is that we cut off every relationship with antisocial forces,” Kinoshita said, adding that Acom has already received repayment in several cases.

Acom began using Mitsubishi UFJ’s database on underworld elements in fiscal 2012 to prevent providing money to them, Kinoshita said.

The admission came after Mizuho Bank drew fire over its lending through group credit company Orient Corp. to people linked to yakuza syndicates, an incident that led the Financial Services Agency to launch investigations into the nation’s three largest banking groups this week. Some financial institutions, including JACCS Co., also recently acknowledged extending loans to crime group members.