Oct 6, 2016

BTMU to cooperate with foreign banks over money laundering

Bank of Tokyo-Mitsubishi UFJ, Japan’s biggest lender, will join foreign peers in using advanced technology to spot illegal activity, sources close to the matter said. The bank will partner with British giant HSBC and Singapore’s OCBC Bank in using the latest information technology and ...

Lawson to enter banking sector in 2018

Oct 5, 2016

Lawson to enter banking sector in 2018

Convenience store chain operator Lawson Inc. plans to enter the banking business in 2018, industry sources said Wednesday. It will prepare for its entry into a new sector by setting up a company next month with the Bank of Tokyo-Mitsubishi UFJ. The investment ratio ...

Wells Fargo faces customer suit over unauthorized accounts

Sep 17, 2016

Wells Fargo faces customer suit over unauthorized accounts

Wells Fargo & Co. was sued Friday by customers in what may be one of many lawsuits following disclosures that bank employees created unauthorized accounts to boost the bank’s fees. Three Utah customers sued in federal court, blaming the scandal on the bank’s push ...

Aug 31, 2016

Canada snubs U.S. in seeking to join China-led AIIB

Canada will apply to join the China-backed Asian Infrastructure Investment Bank, Ottawa’s finance department said Wednesday, in a coup for Beijing after Washington tried to dissuade its allies from signing up. “Canada is always looking for ways to create hope and opportunity for our ...

SWIFT discloses more cyberthefts, pressures banks on security

Aug 31, 2016

SWIFT discloses more cyberthefts, pressures banks on security

SWIFT, the global financial messaging system, on Tuesday disclosed new hacking attacks on its members’ banks as it pressured them to comply with security procedures instituted after February’s high-profile $81 million heist at Bangladesh Bank. In a private letter to clients, SWIFT said new ...