Ethics and fraud risk management

Our priorities:

Creating awareness of integrity and responsible banking and insurance

After updating and aligning a number of important documents in the area of ethics and fraud in 2014 (including the KBC Compliance Charter, the KBC Integrity Policy and the different codes of conduct), we have continued our internal awareness-raising campaigns on integrity and company values.

Anti-corruption programme

  • Zero-tolerance policy

KBC has a zero-tolerance policy towards all forms of corruption and continues to refine its systems and procedures for investigating, detecting and reporting any such behaviour. All policies associated with integrity, anti-corruption and fraud prevention are communicated, implemented, systematically reviewed and monitored group-wide. Our anti-corruption programme includes a fully implemented due diligence system for third parties, (financial) counterparties and suppliers, which have to comply with the principles of this programme. This due diligence also includes a recurring review of existing third parties, counterparties and suppliers.

  • Dealing with gifts

Part of KBC’s anti-corruption programme details how to deal with gifts, entertainment and sponsorship.

  • Protection of whistleblowers

KBC has had a policy for protecting whistleblowers since 2006.

  • Central and group-wide Fraud Competence Centre

In response to the increasing number of external fraud attempts in the area of cybercrime, identity theft and invoice fraud, we constantly raise awareness and implement fraud risk management tools in close cooperation with our business entities.

 

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