On July 24, JBA finalized the following agreement to strengthen efforts to eliminate racketeering in banking transactions, and released it on the same day.
The Code of Conduct of JBA (revised in November 2005) stipulates that banks shall resolutely combat racketeering, a disease that threatens the safety and order of civil society. JBA proactively implements measures to eliminate racketeering in banking based on the Code.
Recently, the government released the Guideline for Preventing Racketeering in the Corporate World (June 19, 2007 Agreement at the Steering Meeting of the Ministerial Meeting Concerning Measures Against Crime).
In adhering to the intent of the Guideline, JBA reconfirms its resolve to resolutely combat racketeering as a means to eliminate banking transactions that might provide racketeers with illicit funds.
JBA will commence discussions concerning the following matters suggested in the Guideline and tackle this issue proactively to make this agreement effective.
| (1) | Building a system to collect information on racketeering for joint use by banks |
| (2) | Implementing rule revisions and other measures to enable loan contracts to be cancelled when they are found to involve racketeers. |
| (3) | Strengthening collaboration with the police and specialized organizations |