MUFG, Other Banks Unable to Conduct Transactions Due to Network Glitch; At Least 10 Banks Believed to be Affected

Yomiuri Shimbun file photo
An MUFG Bank branch

MUFG Bank, Resona Bank and other banking institutions said Tuesday they have been unable to conduct money transfers and other such transactions to various banks.

According to sources, some banks are experiencing a malfunction in the Japanese Banks’ Payment Clearing Network, which handles transactions between various banks.

At least 10 banks are believed to be affected by the malfunction.