On September 24, JBA established the “Draft Model Clause for Eliminating Racketeering That Is to Be Incorporated into Contracts for Ordinary Deposits, Current Deposits and Safe Deposit Box Transactions.”
In light of the “Guidelines for Preventing Racketeering in the Corporate World” that the government formulated, JBA established a so-called draft model clause for eliminating racketeering to be incorporated into contracts for loan transactions and other transactions on November 25, 2008. Its goal is to eliminate transactions that would become a hotbed for illicitly obtaining funds and to discontinue relationships with antisocial groups.
The purpose of this act is to enable the same sort of response for clauses for ordinary deposits etc. as well so that further activities may be promoted to sever relationships with antisocial forces.
Specifically, each clause stipulates a basic policy for rejecting transactions with antisocial forces. We also added clauses to enable the termination of transactions in the event that the counterparty is proved to be an antisocial force, etc.