Executives at a leading Japanese bank apologized and took pay cuts on Thursday after police arrested an employee who allegedly stole about 1.4 billion yen ($9 million) worth of valuables from customers’ safe deposit boxes.

The head of Japan's MUFG Bank has promised to review the financial institution's safe deposit box operations following a series of alleged thefts by a former employee.

MUFG Bank announced Thursday it will punish executives, including President Junichi Hanzawa, for a former employee's alleged massive thefts of customer assets from safe deposit boxes.

A former MUFG Bank employee accused of stealing valuables from customer safe deposit boxes reportedly admitted to using overseas trading plat

Japan's Mizuho Bank is no longer accepting new customers for its safe-deposit service. The move follows the arrest of an employee of another Japanese mega-bank over alleged massive theft from customers' safe-deposit boxes.

Mitsubishi UFJ Financial Group said its banking unit chief and other senior executives will take pay cuts to take responsibility for the theft of millions of dollars from customers’ safe deposit boxes.

At least 60 clients have been victims of the safe deposit box thefts, with the total damage expected to exceed ¥1 billion.

A former employee of MUFG Bank was arrested Tuesday over the alleged theft of valuables from customers' safe deposit boxes, police said. Yukari Imamura, 46, is suspected of stealing around 20 kilograms of gold bars worth around 260 million yen deposited by two male customers at the bank's Nerima

The Japan Bank for International Cooperation will provide up to 800 million euros ($822 million) in loans to a major German telecom c

The urgency to ramp up cyber security has never been more acute in Japan after a recent spate of attacks. Read more at straitstimes.com.

By Stefano Rebaudo and Ankur Banerjee (Reuters) -The U.S. dollar dropped and bitcoin hit an all-time high on Monday before Donald Trump’s inauguration as U.S. president later in the session, with

The Indian rupee was boosted by gains in most regional currencies on Monday, while expectations of near-term volatility climbed to a 17-month high ahead of Donald Trump's inauguration as U.S. President later in the day.