In one of the most extreme measures of assurance to ethical practices around managing client finances, executives at a Japanese bank have reportedly vowed to give up their lives if found guilty of fraudulent activities.
Banking executives are always held to high ethical standards, considering that they handle the wealth of thousands, sometimes millions of people, but while they face serious punishment in case of fraud or embezzlement, they aren’t quite expected to pay with their lives.
According to reports, the top 23 executives in management of Shikoku Bank, including President Miura, signed a ‘blood oath’ mandating them to commit “seppuku” if found guilty of participating in financial irregularities, embezzlement or other fraudulent activities.
“Seppuku” is a form of honourable suicide stemming from Japan’s samurai era. The shocking pledge, which is said to be posted on the Bank’s website, recently went viral, sparking a mixture of reactions varying from admiration to disbelief.
“Anyone employed by this bank who has stolen money or caused others to steal from the bank will pay for it with his or her own property and then commit suicide,” an announcement on the Shikoku Bank’s website states.
“This pledge is part of a document signed and stamped in blood by all 23 employees, including President Miura, of the Thirty-seventh National Bank, the predecessor of Shikoku Bank, to ensure the proper handling of finances.”
Seppuku is a type of ritual suicide that allowed samurai to uphold their honor after failing their lord. Employees of Shinkoku Bank’s predecessor, the Thirty-Seventh National Bank, signed a similar pledge since its founding in 1878.
