TOKYO — Customers’ faith in Japan’s largest financial institutions has taken a severe knock recently, as employees in charge of their retail businesses allegedly committed crimes that have put customers’ wealth and even their lives at risk.
Affected companies, including MUFG Bank and Nomura Securities, are scrambling to regain public trust. Their retail services and products are needed more than ever as the government tries to encourage people to invest, rather than save, for life after retirement.
