Financial crime risks relating primarily to non-face-to-face transactions
First written in FY2016. 2 of 5 entries say "Restated". Latest entry: FY2024.
Seven Bank moved to the "Worse" side of this theme in 2024, 2 years before the typical company in this theme (2026).
The whole theme swung hardest in 2026: 5 of 7 companies on the "Worse" side.
0 other companies' latest entry also says "Reframed".
- FY2024ReframedAnnual report
「Recognising the particular characteristics of a bank whose business is primarily based on non-face-to-face transactions centred on ATMs, we conduct rigorous transaction verification when accounts are opened. We also monitor ATM and account usage on an ongoing basis, work to strengthen our framework for preventing financial crime, including money laundering and terrorist financing, and focus on protecting customers. In addition, Seven Card Service Co., Ltd. and other consolidated subsidiaries engaged in the credit card and money-lending businesses are working to further strengthen the establishment of risk-based risk management frameworks based on the risks of their respective businesses.」
The scope has been expanded from financial crime risks associated with conventional non-face-to-face banking transactions to group-wide measures including AML and countering terrorist financing, as well as risk-based management at credit card and money-lending subsidiaries. - FY2022RestatedAnnual report
「However, if rapidly increasing sophistication and elaboration of criminal methods temporarily outpace countermeasures, there is a risk that damage to our reputation and other factors could affect our social standing and profit or loss.」
The Company continues to address financial crime risks associated with non-face-to-face transactions through transaction verification and usage monitoring. - FY2020WorsenedAnnual report
「In recent years, financial crime methods have become more sophisticated and more elaborate, and are recognised as a new social issue.」
The Company stated that financial crime methods are becoming more sophisticated and elaborate, and that this is being recognised as a new social issue. - FY2018RestatedAnnual report
「Recognising the particular characteristics of a bank whose business is primarily based on non-face-to-face transactions centred on ATMs, we conduct rigorous transaction verification when accounts are opened. We also monitor ATM and account usage on an ongoing basis, work to prevent the use of ATMs and our accounts for financial crime, and focus on protecting customers. However, if rapidly diversifying criminal methods temporarily outpace countermeasures, there is a risk that damage to our reputation and other factors could affect our social standing and business performance.」
The Company identifies financial crime risks associated with non-face-to-face transactions and continues to address them through transaction verification and usage monitoring. - FY2016First statedAnnual report
「However, if rapidly diversifying criminal methods temporarily outpace countermeasures, there is a risk that damage to our reputation and other factors could affect our social standing and business performance.」
With ATM and account-based non-face-to-face transactions as the premise, the Company identifies the diversification of criminal methods and delays in countermeasures as risks.