On May 27, JBA formed the Council for Eliminating Racketeering. The Council is comprised of members from the National Police Agency, Financial Services Agency, Deposit Insurance Corporation of Japan and banks representing concerned Working Committees of JBA.
JBA agreed to strengthen efforts to eliminate racketeering in banking transactions at the Board of Directors Meeting held on July 24, 2007. Individual banks had already been implementing their own countermeasures, but efforts at the banking industry level were essential to keep criminal organizations away from banking transactions that may become the source of such organizations’ funds.
JBA will consult with the Council on various matters including building a system to collect information on racketeering for joint use by banks.