PURPOSE
- The AmBank Group Anti-Bribery and Corrupt Practices Policy (ABCP) is formulated to ensure the Group conducts its business conforming to the highest level of integrity and ethics and all employees comply with the relevant laws and regulations on anti-bribery and corruption. The policy represents AmBank Group’s stance of zero tolerance to bribery and corruption and serves to protect the institution from financial and reputational loss as a result of regulatory and/or enforcement, censure and action. For the purpose of this Policy, the AmBank Group is herein referred to as “The Bank” and the AmBank Group Anti-Bribery and Corrupt Practices Policy as “the Policy”.
The objectives of this Policy include:
- To define roles and responsibilities of relevant parties within the Bank in implementing and managing the relevant ABCP framework and measures;
- To establish standards and guidance for the Bank to understand and comply with the requirements and obligations imposed under Malaysian Anti-Corruption Commission Act 2009 (MACC Act 2009) and Guidelines on Adequate Procedures issued pursuant to subsection (5) of Section 17A of MACC Act 2009, which include amongst others, the five guiding principles under TRUST:
- Top level commitment to ensure that the commercial organisation essentially practices the highest level of integrity and ethics;
- Conducting Risk Assessment;
- Undertake control measures;
- Systematic review, monitoring and enforcement; and
- Training and communication.
- Ensure there are robust procedures and controls in place to identify, prevent, monitor, report, and detect attempts to facilitate bribery or corrupt activities using the Bank, its employees, agents, products and services and prevent breach of laws and regulations.
- To provide a defence against corporate liability that the Bank has put in place adequate procedure designed to prevent any person associated with the Bank from undertaking such corrupt practice.