PNB branch in Tokyo under fire from Japan's Financial Services Agency


09-23-2005, 08:36 AM

Looks like PNB Tokyo is again under the scrutiny of Japanese authorities for questionable actitivites. “THE Philippine National Bank (PNB) branch in Tokyo is under fire from Japan’s Financial Services Agency (FSA) for alleged mishandling of foreign exchange and remittance transactions and alleged unauthorized sale of lottery tickets.”

May alam ba kayong alternatives sa PNB para magpadala ng pera sa Pilipinas? (Nandito ang news link sa Inquirer ( yyyy=2005&mon=09&dd=23&file=2).)

puting tainga

09-23-2005, 09:37 PM

As I have told you before, I usually send money to PH through PNB from a Mizuho ATM near to my house.(low risk, high fee)

What shall I do if PNB Tokyo is forced to close its operations?

Maybe God is telling me I don’t have to send money to PH anymore…:confused :

Ayon sa balita, PNB Tokyo will continue its operations.



09-23-2005, 10:21 PM

Roy, Ok pa naman yata sila. Pagka hindi na eh nandiyan naman ang Metrobank.


09-23-2005, 11:37 PM

whew, i though it was a literal fire.:open_mouth:


09-24-2005, 07:18 PM

Nakakahiya ang Administration ng PNB Tokyo Branch!:mad:
I wonder what LAME reason would these blokes think about to justfiy their actions. Kilala na tayo sa buong mundo na “magaling” mangatwiran (sa Ingles, ha!) kapag na-korner na. “Hello Garci!”
Sinamantala nila ang mga privileges na ibinibigay ng mga Hapon sa kanila.
Grabe, kung ginawa ito ng isang private corporation eh maiintindihan ko pa dahil they must be after the profit (lahat naman eh) at nararapat lang na isara sila, PERO… PHILIPPINE NATIONAL BANK ito, parang yung nangyari dati sa Philippine Embassy, binigyan ng notice na itigil yung paniningil nila sa mga promoters. Ano na kaya ang nangyari dun pagkatapos nilang magatwiran?

2 lang yata ang Philippine banks dito na nag-ooperate, PNB at Metrobank. Imagine kung ipasara ng Japanese govt ang PNB dahil sa kababawan na ito!


09-25-2005, 12:45 PM

:slight_smile: Hi! Y don’t u try metrobank or ufj bank?


09-26-2005, 03:39 PM

nakakahiya nga yun…2x na yata gumawa ng palpak ang PNB.noong nasa pinas ako,nabalita yan na ang manager ay high ranking official sa phil embassy…conflict of interes

marami nga akong kilala na staff sa PNB at phil embassy na nagdadala ng mga kamag anak sa jpn as dependent of diplomatic official tapos nagtatrabaho sa mga factories sa kalapit na probinsya.pag nahuli,kahiya hiya na nmn.ang alam ko kc di pwedeng magtrabaho ng pribado ang isang dependent ng diplomatic official.


09-28-2005, 05:25 AM


But to put it into perspective,

Nagtatrabaho ako sa Fortune “5” company with 300,000+ employees worldwide (Fortune 5 not 500) and FSA, iyong same agency investigating PNB has been stationed sa isang office namin for 3 months na… iniimbestigahan din kami!

I have friends working for different banks from Marunouchi to Roppongi - American banks, Swiss banks, German banks etc. Before, nakakapagpadala kami ng personal email sa isa’t isa but now hindi na pwede due to the FSA.

Looking into the reasons for the penalty, mukha namang “valid” iyong dahilan behind the actions na ginawa nila.

  • Selling lottery tickets - it used to be allowed if within one organization and for years, Japanese government has treated “ethnic” banks servicing mostly their nationals as such. Ilang lottery ticket na iyong nakita ninyong tinitinda sa Meguro Church or Yotsuya… illegal ba iyon?

  • Insufficient Identification - anong paniniwalaan mo, passport na baka nadaya o high school ID noong tao? Until recently, kahit anong identification pwedeng gamitin. But due to the insistence of US government, kailangan “legal” status na nagpapadala ng pera if you want to receive favors from the US government… (saan nga lumipat iyong 7th Fleet after Subic?) How do we service the over-staying Pinoys ngayon? Or you are all so righteous na it would be okay to keep them hidden and pretend na hindi sila nage-exist?

Plus Embassy issue of having both positions as Embassy official and PNB Director, matagal ng issue and I would guess na one of the reasons was, prior to liberalization, it was difficult to get a “banking license” at that time so since PNB was government owned they asked the person to double as Embassy official and PNB director … in order to provide service sa Pinoy thru having PNB here sa Japan. It should be noted na once they opened up the markets, PNB was one of the first to apply from Pinas and “moved” out of Embassy facilities.

… sorry hindi po ako nagtatrabaho sa PNB…



09-28-2005, 10:52 AM

Eto yung news article tungkol dyan in Nihongo:

金融庁は21日、フィリピン・ナショナル・ バンク東京支店が旅行会社で無認可営業を行 っていたなどとして、法令順守の徹底と経営 責任の明確化を求める業務改善命令を出した 。銀行が無認可営業で行政処分を受けるのは 初めて。

Aba, may record pa! Nakakahiya talaga tsk tsk tsk. :mad: Buti na lang Metrobank gamit ko. Sana di mangyari to sa MB.


09-28-2005, 01:12 PM

Aba, may record pa! Nakakahiya talaga tsk tsk tsk. :mad: Buti na lang Metrobank gamit ko. Sana di mangyari to sa MB.

At sana rin maging mabait at hindi masusungit ang mga nasa MB:)


10-02-2005, 12:32 AM

Just allow me to say that we should not be so quick to judge PNB Tokyo without knowing ALL THE DETAILS of the investigation. It is not fair to a bank that has merely tried to accomodate the needs of Filipinos in Japan within the bounds of Japanese law, albeit at the limits.

Disclaimer: I do NOT work for PNB. I just happen to know the situation fairly well, and am quite familiar with how agencies like the FSA conduct their investigations.

The FSA is out to prove its worth as a regulatory agency by achieving a victim list of prize catches. It has conducted relentlessly cruel investigations of “trophy” banks: Citibank, Deutschbank, Banco do Brasil, Philippine National Bank … in short, banks that are either famous or carry their country’s name. (The only reason Metrobank has not been investigated is: it will not be a feather on the the FSA’s cap - malay ng ordinaryong Hapon kung ano yung Metrobank.) They will come to your office without warning, then demand that you submit Japanese translations of all your documents within the last 5 or 10 years within 5 days - then make snide remarks about the Nihongo ability of your Nihonjin translators even if you get a top company like Simul to do it for you.

None of the banks investigated have escaped without some form of penalty because the FSA will sift through all your documents until they find some little mistake even if it takes them six months of 20 people stationed 8 hours a day at your premises, then they will blow it up beyond proportion. Frankly, it is a waste of the Japanese taxpayer’s money, and they have much more important things to do - like running after real money launderers such as the door-to-door services. But of course, banks are easier to bully and run after, plus, there is more “publicity value” for the agency.

Lottery tickets referred to in the case include all those raffle tickets that the various organizations have asked PNB to help it sell - kaya ayan, guilty din kayo. Improper documentation means accomodating undocumented Pinoy workers who need to send money back home - note that even if the person has a valid ACR but his visa has expired, FSA considers him improperly documented and is penalizing PNB for not checking the visa period status in the passport. Trabaho pa ba yan ng bangko, e may valid ACR (duly issued by the Japanese government) naman yung tao? Illegal branches include those temporary promo counters that PNB sets up during Family Day or when an organization asks PNB to sponsor its events in exchange for a booth.

Neblus has already touched on the matter, but to further explain: the PNB director was not actually an embassy official. When PNB first entered Japan, the banking industry here was not yet deregulated, and they thus had to borrow space within the embassy as they could not set up an office outside. To justify this occupancy to both the Japanese government and the Philippine home office, as well as to secure visa status, the PNB representative was made an “official” of the embassy. As far as the Japanese are concerned, there could not be a conflict of interest since PNB did not officially exist!! When the market opened up, PNB applied for a license and moved out of the embassy as soon as it got the license, and the PNB representative gave up the “official” status. I do not see what is wrong here. The FSA has taken the two non-concurrent histories and mashed it together to fit the story it wants to make, claiming that the PNB representative was also an embassy official.

Again, I repeat, like Neblus, I am not in any way related to PNB. As people familiar with my posts may know, I am usually more critical of the Philippine side, but I have seen similar investigations by Japanese government agencies as well as the police, enough to be sick and tired of all this crap. Not everything the Japanese newspapers tell you should be believed.

(Recently, a Japanese weekly went to a shopping center in Tokyo at 7AM in the morning and took photos of the empty corridors - obvious ba na walang tao, kaaga-aga? They then published the photos with a commentary on how the shopping center has lost so much popularity that it is now empty of customers just a few months after opening. Philippine media may be the pits, but Japan isn’t that far behind either.) :mad:

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