Mizuho Financial Group controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Repeated ATM and banking-system incidents
A series of operational incidents in the early 2020s, including problems affecting ATMs and account services, led to regulatory attention and public criticism of Mizuho’s systems governance and customer communications.
2021
Mizuho president apologizes for ATM shutdowns
Company response
Mizuho Financial Group President Sakai Tatsufumi apologized for systems failures that shut down ATMs across Japan. Mizuho said the problems had been fixed and described changes intended to prevent ATMs from retaining cards and bankbooks during a future system failure.
Stated objective. Drastically strengthen crisis management and organizational capacity.
Company response
Apology — Mizuho Financial Group
Remediation — Mizuho Financial Group
Mizuho says it has made changes that will stop its ATMs from eating cards and bankbooks if the system goes down again.
Source excerpt
In the worst incident -- in late February -- 80 percent of Mizuho Bank's ATMs were affected nationwide.
The president of one of Japan's major financial groups has apologized again for systems failures that shut down ATMs across the country.
2011
Post-earthquake system disruption
Mizuho experienced another major systems failure during the period following the 2011 earthquake and tsunami in Japan. The disruption renewed scrutiny of information-technology controls, crisis management and accountability.
2002
Major banking-system integration failures
The initial integration of Mizuho’s banking systems produced widespread service disruptions. The incident became a significant governance and operational-risk issue for the newly consolidated group.