STRATEGIC PARTNERS
April 3, 2002
TOKYO -- On the first day of operations, the computer system that controls Mizuho Bank's ATMs not only failed to allow ATM users to withdraw or transfer money, but in 147 cases also deducted the amounts that cardholders of the former Fuji Bank tried to withdraw from their Mizuho Bank accounts through other banks' ATMs, according to a report in the Yomiuri Shimbun.
On April 1, those using Fuji Bank cards tried to withdraw cash from the ATMs of other banks, but the ATMs failed to respond to their requests. The following day, however, when they accessed their accounts at Mizuho Bank ATMs, they discovered that their accounts had been debited by the amounts they had unsuccessfully tried to withdraw the previous day.
Dai-Ichi Kangyo Bank, Fuji Bank and the Industrial Bank of Japan were merged and reorganized into Mizuho Bank and Mizuho Corporate Bank, which launched operations on April 1 under the umbrella of Mizuho Holdings Inc.
On April 1, Mizuho's computer system crashed at about 8 a.m. and remained largely out of order until 8 a.m. the following day. About 7,000 ATMs were affected. However, for a few seconds at around 9 a.m. Monday, the system functioned normally, according to Mizuho officials.
Previous press reports implied that Mizuho Bank did not conduct enough testing to ensure that its merged ATM network would operate smoothly.
