Japan's Mizuho Bank has suffered another massive system failure and all branches have suspended trading

Japan's Mizuho Financial Group said on Friday that all of its branches in Japan had suspended trading after a iteration hardware failure. It is the latest in a series of system failures that Japan's second-largest bank has suffered this year.

Mizuho said that due to a system problem that occurred the night before, its 460 branches were open for business on the 19th, and all of them could not be traded. But all online trading and ATMs are still functioning properly. A Spokesperson for Mizuho said the bank was looking for the cause of the accident and was working to restore the system.

At the end of February this year, Mizuho had a large-scale system failure that left 4,318 of its about 5,900 ATMs unusable. Japan's Financial Services Agency will decide whether to take punitive action against Mizuho after reviewing its findings.

Mizuho has been penalized in the past for computer malfunctions, including a computer failure after the earthquake and tsunami in Japan 10 years ago that delayed the transfer of funds.

This article originated from the Financial Circle Network