TOKYO, Reuters – Japan’s finance minister ordered Friday that the Mizuho Financial group’s banking division take the necessary corrective steps to remedy its violation of foreign exchange laws and present preventative measures before Dec. 17.

Mizuho, which was experiencing one of eight system breakdowns in 2018, failed to follow the anti-money laundering requirements under the Foreign Exchange Act for overseas remittances. This despite Japan’s increasing efforts against money-laundering.

Financial Services Agency of Japan, a Japanese bank regulator issued a reprimand against the country’s third largest lender for system failures.

Mizuho, one of Japan’s three largest megabanks, was the reason that it took corrective actions against Mizuho. However there has not been any evidence to suggest illegal money remittances.

A three-year plan of action was announced by the Ministry in August. It included stricter supervision for financial institutions, in response to an FATF (Global Financial Crimes Watchdog) report.