The Banking Royal Commission outlined ethical dilemmas in Australian banking over recent years in its 2018 report. In situations where banks fail to achieve moral values in their operations, which can lead to social and economic harm or even redundant instability within the economy, the interest of the entire stakeholder is at risk. The implementation of the Banking Executive Accountability System (BEAR) was one of the actions taken by the Australian government to control poor corporate culture. Wishart and Wardrop (2018), however, indicate that these steps would not necessarily bring about any significant change in the culture of banks and financial institutions, but why so?