MUFG Bank to end over-the-counter int’l cash transfers to combat crime
Japan's national flag is seen behind the logo of Mitsubishi UFJ Financial Group Inc (MUFG) at its bank branch in Tokyo, Japan September 5, 2017. REUTERS/Kim Kyung-Hoon
Main Points :
1. MUFG Bank will end its over-the-counter international cash transfer services at the end of May to strengthen anti-money laundering measures, sources close to the matter said.
2. MUFG Bank, a core banking unit of Mitsubishi UFJ Financial Group Inc, is beefing up such steps in response to growing international calls for preventing illicit trading including terrorist financing, the sources said.
3. MUFG’s customers can continue to send money overseas online and from their accounts opened under the stricter identity verification process
Source :
https://japantoday.com/category/crime/mufg-bank-to-end-over-the-counter-int’l-cash-transfer-to-combat-crime
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