New MUFG digital bank to forgo ATM cards in cybercrime safeguard

Shift to smartphone QR codes for security is a first for a Japan megabank affiliate MUFG Emut Bank customers will need to use their smartphones to withdraw money from around 28,000 Seven Bank ATMs in Japan. (Photo by Satoko Kawasaki) TOKYO — A digital bank opening under Japan's Mitsubishi UFJ Financial Group next year will not issue ATM cards, instead having customers confirm identities using the bank's smartphone app for additional security amid a rising tide of cyberattacks.

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