The primary commitment of the Group, is adherence to the highest ethical standards and zero tolerance towards cases of fraud, bribery, violation of legislation related to money-laundering and generally any actions that cause material and reputational damage to the Group, a commitment that obviously applies to all staff.
The CoC acts as a regulatory framework for the Group, is complementary and subsidiary to existing legislation and clearly reflects the value system that governs the Group’s activities: trust, understanding, dynamism, innovation, co-operation.
The central pillars of the CoC refer to the following:
- cultivating a strong relationship of trust with clients;
- providing financial security;
- developing professional ethics;
- acting with respect towards our colleagues;
- protecting the Group and its reputation;
- operating with social responsibility;
The pillar referring to the provision of financial security includes the prevention of instances of bribery and corruption and promotes integrity within the business environment.
The basic principles of Eurobank’s Anti-Bribery and Corruption Policy, which, together with the principles of the CoC, are in accordance with international best practices, include:
- zero tolerance against any type of fraud, including bribery and corruption;
- establishment of a framework for preventing and managing cases of bribery and corruption;
- staff training;
- risk assessment for bribery and corruption in the different operational areas;
- implementation of a control program;
- confidential reporting mechanisms for incidents of unethical conduct.
Every employee can report to the competent bodies of the Group facts or cases that constitute a violation of law or another form of illegal, prohibited or unethical conduct. The Group provides protection from retaliation and keeps confidential the identity of those who have submitted all the information they hold and which they consider to be accurate and true.
On an annual basis, all the employees confirm that they are aware of the terms of the CoC. The general issues developed in the CoC, and which are specified by Policies, Guidelines and Procedures issued by the relevant Units, are posted on the Intranet site or distributed by electronic mail or any other means in order to enhance the knowledge of employees with regard to the procedures in force.
The Group provides relevant induction and ongoing training programs for staff members.
Since 2008, Eurobank has signed the UN Global Compact, actively supporting and promoting the 10 Principles enshrined therein while on an annual basis, Eurobank publishes a report on the actions that fulfill its commitments to those principles.
In 2019, Eurobank adopted the enhanced Wolfsberg Group Correspondent Banking Due Diligence Questionnaire, which includes the measures taken by the Bank against bribery and corruption and is posted on the Bank’s website.