Swedbank recognises that corruption has an adverse effect on communities and individuals since it threatens the law, democratic development and the human rights and freedoms. Swedbank takes an active standpoint against all forms of corruption in all markets where we operate.
Swedbank's Anti-corruption Policy applies for Swedbank AB and all subsidiaries.
The policy in brief
We are part of the societies where we operate; opportunities and challenges in the local communities are our challenges and opportunities. Our investments, credits, payments and supply chains also have a global impact. This entails both local and global responsibilities on our part.
We strive at operating with transparency, trust and integrity.
We are committed to protecting the Bank from corruption, financial crimes and other activities that poses threats to the Banks operations and our customers, and in the long run the integrity and the stability of the financial system.
This approach applies to all markets where we operate and to all our business relations and shall guide us in our daily work with all our stakeholders.
The purpose of the policy is to set common standards for all of Swedbank businesses regarding compliance with our zero-tolerance policy towards any form of bribery and corruption.
Swedbank promotes transparency and accountability in business relations and communicates in a way that enables stakeholders to understand the bank’s work, challenges and ambitions. The bank assures stringent procedures to identify and understand risks of corruption in order to apply preventive measures. These are some of the prioritised areas, related to anti-corruption and transparency, within Swedbank Group:
- Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF) are highly prioritised within Swedbank Group.
Our work with AML and counter-terrorist financing
- Swedbank recognises the importance of frank discussion of ethical issues and encourage employees to communicate concerns regarding non-compliance and questionable practices anonymously by using the bank’s whistle blowing procedure.
Internal alert (whistleblowing)
- All operations in Swedbank must be characterised by high ethical standards, which necessitates that Swedbank and its employees actively examine every business transaction and ethically questionable situation on the basis of ethical norms and attitudes.
- Financial market stability and efficiency is largely dependent on the regulatory and political environment. Swedbank actively participates in political discussions that allow the firm to share its expertise and adapt early to regulatory changes and corporate responsibility-related issues. Swedbank, however, does not knowingly support – financially or otherwise – political parties of any kind.
- The Swedbank Group provides a wide range of financial services to many different customers. It also includes business for its own account. A conflict of Interest may arise in the Group's ordinary course of business in a variety of situations; thus, awareness of these matters both among employees and customers is of crucial importance. Swedbank has, in its Conflict of Interest Policy, established principles for identification of the circumstances which constitute or may constitute a Conflict of Interest and the management of such conflicts.
- Swedbank has developed codes of conduct for employees and suppliers to ensure a mutual understanding of the importance of respect for business ethics.
Employee code of conduct
- For the sake of transparency, control and monitoring, the bank has created a handbook with concrete guidelines on customer events and gifts and has introduced a reporting system for employees.