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Suruga Bank made false reports to Bank of Japan in 2014, 2018

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Suruga Bank made false reports to Bank of Japan in 2014, 2018

Suruga Bank Ltd. made false reports during Bank of Japan inspections in 2014 and 2018, withholding details on the state of operations and credit risk, the Nikkei reported Oct. 11.

Japan's Financial Services Agency ordered the regional lender to suspend business activities in October 2018 amid an alleged fraudulent housing loan scandal. Senior Suruga executives then stepped down amid the scandal.