17 October 2017
Find out more

Mizuho Bank to pay Y17 million damages for computer problems - Kyodo

23 August 2002  |  3542 views  |  0 Mizuho Bank to pay Y17 million damages for computer problems - Kyodo

Mizuho Bank has agreed to pay the Tokyo metropolitan government Y17 million for damages incurred when the bank's computer systems crashed in April, the Kyodo News Agency reports.

Kyodo says withdrawals of Y1.75 billion in water and sewage fees from the bank accounts of 140,000 households and companies were delayed during the computer breakdowns which marred the opening of the newly-merged bank.

The glitches affected 2.5 million transactions, caused 60,000 erroneous double deductions from accounts and froze operations at Mizuho's 7000 ATMs.

The Y17 million compensation includes Y13 million the Tokyo government spent on writing a new computer program to collate the delayed payments, and an extra Y1.7 million for printing apologies and postage, Kyodo reported.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comRegister nowvisit www.vasco.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14427 views comments | 11 tweets | 3 linkedin
Taiwan's Far Eastern International Bank suffers malware attackTaiwan's Far Eastern International Bank su...
13056 views comments | 16 tweets | 22 linkedin
Monzo fends off suitors as current account upgrade beginsMonzo fends off suitors as current account...
8954 views comments | 17 tweets | 14 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
7898 views comments | 15 tweets | 20 linkedin
Ripple blockchain network hits 100-member markRipple blockchain network hits 100-member...
7596 views comments | 13 tweets | 13 linkedin

Featured job

to £70K base, £105K ote, benefits
London, UK

Find your next job