New York state hit Japan's largest bank Bank of Tokyo Mitsubishi-UFJ with a $250 million fine Thursday for handling money transfers that violated sanctions on Iran, Sudan and Myanmar.
The state's Department of Financial Services (DFS) said Mitsubishi-UFJ moved billions of dollars through its New York branch between 2002 and 2007 for state and private entities in Iran, Sudan and Myanmar, including entities on the US Treasury's blacklist.
In that period banking services and money transfers fell under US sanctions on the three countries.
To hide them, the DFS said the bank employees "systematically" removed information from wire transfer messages that could have identified the parties involved.
In all, the bank handled nearly 28,000 illegal transactions worth $100 billion in violation of the law, according to the DFS.
Tokyo prosecutors are searching the house of a former aide to Lower House member Yuko Obuchi over the recent political funds scandal. The scandal drove Obuchi from her post as Economy, Trade and Industry Minister. (NHK)
Former Japanese Prime Minister Yasuo Fukuda said Wednesday he had a "nice meeting" with Chinese President Xi Jinping, less than two weeks ahead of a gathering of Asia-Pacific leaders in Beijing where there is a window of opportunity for the two countries to thaw icy relations. (Kyodo)
Japan came in 104th in the World Economic Forum's gender equality rankings for 2014, up from 105th the previous year but still far behind other major industrialized nations, the Geneva-based group said Tuesday. (The Japan News)
In spite of a recent fall in organized crime membership, Fukuoka Prefectural Police on Monday released a manga comic to discourage participation in yakuza gangs, reports the Nishi Nippon Shimbun (Oct. 27). (Tokyo Reporter)
Monday marks exactly one month since Japan experienced its deadliest volcanic eruption in decades. The eruption of Mount Ontake in the central part of the country killed 57 people. 6 others are still listed as missing. (NHK)