WASHINGTON (Reuters) - The U.S. Office of the Comptroller of the Currency (OCC) said on Friday it had reprimanded MUFG Bank, Ltd. for lapses in its anti money-laundering controls and other compliance issues at its New York, Chicago and Los Angeles branches.
The Tokyo-based bank did not accept or deny the charges dating back to 2016. The bank has agreed “to take comprehensive corrective actions to improve their...compliance program,” the OCC said in a statement.
MUFG Bank said in a statement on Friday it has made investments to complete the OCC’s remediation, including the establishment of a division to oversee all global financial crimes compliance.
Reporting by Katanga Johnson; Editing by Michelle Price, Chizu Nomiyama and Chris Reese