Policy Anti-Bribery and Corruption
1. Introduction and Objectives
This Policy is an extension of EBANX Code of Conduct. Its purpose is to establish the standards of conduct expected from ebankers and third parties regarding the prevention of bribery and corruption.
EBANX strongly rejects bribery and corruption and has a zero tolerance regarding them, always looking for transparency and integrity in its business relations. Refusing to pay bribes is seen as something positive, even if such refusal may result in EBANX losing businesses.
2. Scope and Users
This Policy applies to every ebanker, all products and all EBANX’s companies in all EBANX locations, including:
- Partners and shareholders
- Officers and Board of Directors
- Temporary employees
Third parties acting jointly with or on behalf of EBANX are also required to comply with the rules established in this Policy.
3. Terms and Definitions
Corruption and Bribery - Corruption is the behavior through which public or private agents abuse power in exchange of illegal advantages, in order to favor private interests from corrupters.
It increases business costs, generates uncertainty in negotiations, hinders economic growth and international trade and weakens democratic values. Despite relations with public agents being seen as more vulnerable to corruption, it is also relevant in the private sector.
Bribery is a sort of corruption, consisting in intentionally offering, implying, authorizing or giving an advantage to someone in exchange of personal gain, with the intention of securing or speeding up routine actions, usually by public officials.
Public Agents - For the purpose of this Policy, public agents are individuals with a mandate, job or function in all branches of national or local government, in foreign governments or in international organizations. The definition also includes political candidates and employees of foundations and of government-owned businesses and organizations.
Gifts: institutional and promotional items, carrying an advertising message, distributed by any kind of legal entity as courtesy, advertisement or on occasion of events or commemorative dates. Must not be personal, meaning it must be offered to a group of people.
Presents: valuable items, offered to selected recipients by any kind of legal entity, as an expression of appreciation or goodwill. They may be personalized with the recipient’s name.
Hospitality: vacations, cruises, tickets, accommodation, meals, shuttle service and other services, related to entertainment or not, that aim to promote and/or demonstrate products or services. If the purpose of the services offered is only tourism, they are considered as presents.
Conflict of Interest: situation caused by the conflict between a personal interest (of an ebanker, of a supplier, of a client, etc) and a corporative interest, in which there is a loss to EBANX.
4.1 What must be done
4.1.1 Regarding gifts, presents and hospitality
- Only offer or accept gifts, presents and hospitalities when it does not influence or seem to influence our decisions or the decisions of those with whom we have business relations. It is unacceptable that trading gifts, presents and hospitalities generates or seems to generate illegal advantages;
- Offer or accept gifts, presents and hospitality only if the item and its value are in accordance with the business rationale of the partnership;
- Only offer and accept gifts, presents and hospitalities sporadically. For the purposes of this policy, it is considered sporadic the offering or receiving of gifts, presents, and hospitalities at a maximum frequency of once a year, within the same business relationship;
- Be always transparent, by reporting the offering and accepting of gifts, presents and hospitalities, as well as keeping record of expenses related to those items;
- When offering gifts, presents and hospitalities, abide by the receiver’s organization’s Code of Conduct, internal Policies and rules;
- When purchasing gifts, presents and hospitalities, abide by the Purchasing Policy (POL-GOP&P-002), following the process described in the Purchasing Standard (STD-GOP&P-001).
4.1.2 Regarding conflict of interest
- Ensure the existence of due processes for creating and revising functional structure of the areas, as well as for defining and assigning responsibilities, duly segregating activities and mitigating potential conflicts of interests;
- Ensure due process for payment, incentives and performance management;
- Ensure the existence of a system that allows restrict and controlled access to sensitive information, establishing an approval flow capable of checking access requests and if the access level is equivalent to the ebanker position, ensuring confidentiality of secret information and avoiding conflict of interests;
- Avoid subordination relation between family members (spouse, partner or relatives up to the fourth degree, by consanguinity or affinity, lineal or collateral; for example: father, mother, children, grandparents, grandchildren, nephews and nieces, cousins, uncles and aunts, parents-in-law, siblings-in-law);
- Avoid subordination relation between people in romantic relationships;
- Avoid assigning responsibilities involving recurrent contact with public institutions to ebankers that have family members in decision-making position in those institutions;
- Using the Conflict of Interest Disclosure Form [https://app.pipefy.com/public/form/2CpOE4us] to identify situations that might require your attention and EBANX’s attention.
4.1.3 Regarding record of financial transactions
- Record and document all financial operations according to legal, accountable and tax dispositions;
- Keep evidential records and documents filed for the period determined by legislation, so that they can be presented to regulatory bodies whenever requested.
4.1.4 Regarding relations with public agents
- Whenever possible, yearly rotate functions of the ebankers whose responsibilities include frequent contact with public agents;
- When holding professional meetings with public officials, try to ensure the presence of at least two ebankers. We should strive to ensure that the meetings have a pre-established agenda;
- Those meetings must be recorded in writing. That record must be sent to the Compliance team.
4.1.5 Regarding relations with third parties
- Carry out Know Your Merchant (KYM), Know Your Customer (KYC), Know Your Partner (KYP) and Know Your Employee (KYE) processes, so that Merchants, End Users, ebankers, suppliers and providers abide by this Policy and by the EBANX Compliance Program;
- Add anti-corruption clauses in existing and new agreements signed with Merchants, suppliers and partners;
- Pay agents, referrals and other intermediaries appropriate, justifiable and proportional remuneration for legitimate services executed;
- Monitoring Merchants, End Users, suppliers, providers and other partners’ conducts and terminate agreements in case any of those parties gets involved in corruption or bribery cases or in situations inconsistent with EBANX Compliance Program.
4.1.6 Regarding donations and sponsorships
- Make donations and establish sponsorships with primarily philanthropic goals, based only on social, cultural and educational interests;
- Obtain Legal and Compliance opinions validating the donation or the sponsorship;
- Obtain a proof of payment from the receiving institution, so that the operation is duly registered, according to the local legislation;
- Monitoring donations and sponsorships so that EBANX is sure that the funds were used for the proper end.
4.2 What can never be done
4.2.1 Regarding gifts, presents and hospitality
- Exchange gifts, presents and hospitalities with public agents or third parties representing them, in any situation;
- Offer or accept any amount in cash money;
- Offer or accept gifts, presents and hospitalities with the objective of influence our decisions or the decisions of those with whom we have business relations, or aiming to generate or seem to generate illegal advantages;
- Offer and accept gifts, presents and hospitalities frequently;
- Conceal the offering or the acceptance of gifts, presents and hospitalities;
- When purchasing gifts, presents and hospitalities, ignore the Management Guidelines for EBANX Purchasing and Payment Approval Authority.
4.2.2 Regarding conflict of interest
- Practice outside EBANX, in its own company or in another institution, a professional activity that is similar to the one executed in EBANX or that is related to EBANX business model;
- Use EBANX resources, such as facilities, equipment, email accounts, software, etc., for private purposes;
- Use EBANX brand or any element of that brand for personal advantage and/or promotion; the brand must also not be used for the promotion of events to which EBANX is not officially related;
- Be part of external activities that involve sharing EBANX intellectual property or information and knowledge that are considered confidential;
- Favor Merchants, End Users, suppliers, providers, competitors or other third-parties due to personal interest or due to the interest of related third-parties.
4.2.3 Regarding record of financial transactions
- Do not keep record or document any financial operation carried out by EBANX;
- Keep evidential records and documents filed for a period of time shorter than determined by legislation.
4.4.1. In4.2.4 Regarding relations with public agents
- Violate or fail to obey any national, foreign or international anti-corruption legislation applicable to EBANX businesses;
- Promise, offer or give illegal advantage to public agent or another person associated with an agent;
- Block an investigation or an inspection from public organizations, entities or agents, or interfere in their procedures, including regulatory agencies and supervisory bodies from local Financial Systems;
- Hire a public agent, a member of its family or another person associated with a public agent as an ebanker without the Compliance approval;
- Hire companies whose shareholders are public agents, members of public agents’ family or another person associated with public agents without the Compliance approval.
4.2.5 Regarding relations with third parties
- Do not carry out Know Your Merchant (KYM), Know Your Customer (KYC), Know Your Partner (KYP) and Know Your Employee (KYE) processes;
- Ignore misconducts from third parties, especially if it violates this Policy, the EBANX Code of Conduct or any other EBANX Policy, procedure or rule.
4.2.6 Regarding donations and sponsorships
- Make donations, as a legal entity, to political parties, individual candidates or political campaigns;
- Make donations to political parties, individual candidates or political campaigns as a private individual, when that individual is a shareholder or a member of the board of directors;
- Make any kind of contribution, financial or in kind, to political parties, individual candidates or political campaigns, in behalf of EBANX, its shareholders or board of directors;
- Make donations or establish sponsorships that aim to influence business decisions or to serve personal advantages, being them direct or indirect;
- Make donations with religious purposes;
- Make donations in cash money;
- Make donations to private individuals;
- Make donations to institutions connected to public agents, to members of public agents’ family or to another person associated with a public agent.
4.3 Disciplinary Procedures
Any ebanker that breaches this policy will be subject to disciplinary measures. The violations will be duly investigated, according to the Conduct Committee procedures, guaranteeing anonymity to the individuals involved. All ebankers have the obligation to cooperate with ongoing investigations.
4.4 EBANX Helpline
Violations to this Policy, as well as illicit or irregular practices or other matters that may cause losses to EBANX, must be reported by ebankers or third parties using EBANX Helpline.
Phone number: 0800 512 5577
EBANX assures the Helpline secrecy and safety so that it can be used anonymously or not, with no risk of any sort of retaliation.
The Helpline is also the proper channel for suggestions and questions about the Compliance Program and its documents.
The online services are available in Portuguese, English and Spanish. The phone service is only available within Brazil and in Portuguese.
5. Normative References
COD-GR&C-001 Code of Conduct
POL-GOP&P-002 Purchasing Policy
STD-GOP&P-001 Purchasing Standard
6. Publishing and Distributing Policies
Any new policies or modifications to existing documents should be made available for all EBANX interested parties.
Policies are available, for ebankers, on MyEBANXLife, in the “Policy” section.
Public documents may be found in EBANX websites.