Thanachart Group recognizes that corruption is not only the root cause of evils and an obstacle to the country’s social and economic development, but also leads to unfair business practices. As a result, it has joined with both the private and public sectors in the program called “Thailand’s Private Section Collective Action Coalition Against Corruption (CAC)” by signing an agreement confirming its commitment to the coalition. In 2014, Thanachart Group adopted an “Anti-corruption Policy” and established measures as well as the related operational practices and procedures. They served as guidelines that all employees of the Group are requested to adhere to. The details of which are as follows:
- The Boards of Directors of the Company and companies of Thanachart Group adopted resolutions approving the Anti-corruption Policy. The policy clearly defines “corruption” and various forms of corruption. The policy basically requires that Directors, executives, and employees must not be involved in or accept any corruption in any form, directly or indirectly, for the benefit of the organization, themselves, families, friends, or acquaintance. They are required to serve as role models complying with the Anti-corruption Policy. As well, the executives of Thanachart Group are not only responsible for looking after and supporting the implementation of the policy, but also for reviewing the various measures, ensuring that they are appropriate and in line with business changes as well as laws and regulations.
- Thanachart Group has established the Anti-corruption as one of the organization’s core values. This core value known as ‘C3SIP’ serves as a guideline to which all employees of Thanachart Group are required to adhere. The key components of C3SIP are as follows:
- Customer focus : meeting the customer needs,
- Collaboration : working as a team,
- Commitment : fulfilling one’s duties until goals are achieved,
- Spirit : devotion to one’s work,
- Integrity : adhering to integrity and Anti-corruption, and
- Professional : possessing adequate knowledge and ability to perform one’s duties.
- As regards the corruption risk assessment, member companies of Thanachart Group have adopted the principles and methodology based on the Risk and Control Self-Assessment (RCSA) which is one of the tools used for operational risk management. Thanachart Group will conduct the assessment every three years and also monitor the progress of the action plans as well as the implementation of the risk control measures whenever the risk factors are changed significantly to the extent that they have a material impact on the operational processes.
- Thanachart Group has established Anti-corruption measures, to which the employees of Thanachart Group are required to adhere. The measures are based on the internal control principles which are in line with the corruption risk and the Anti-corruption Policy. These measures will be reviewed annually, ensuring that they are appropriate and in line with the risks. As well, the Group has established disciplinary actions to be taken against employees who are involved in any corrupt act.
- Thanachart Group places emphasis on all forms of corruption, particularly in relation to giving or accepting presents or gifts, throwing parties or giving or accepting any other benefits. These are issues, to which the Group pays special attention as they could easily lead to corruption. As a result, they have been included in the Code of Business Conduct as well as the rules and regulations which cover all operational and control procedures. The employees are required to notify their supervisors of their acceptance or provision of presents. Violation or failure to implement the Anti-corruption measures as well as any action supporting, facilitating, or being involved in corruption are considered wrongdoings and the involved employees will be subject to disciplinary actions.
- To make the Anti-corruption measures more efficient, Thanachart Group requires that each member company adopts the related rules, operational procedures, and guidelines, particularly about notification of corruption clues as well as handling of complaints about fraud and corruption. The member companies are also required to establish safe channels, through which any members of the general public or any employees of Thanachart Group who come across any suspicious fraudulent or corrupt activity could report clues or file their complaints. The information provided by whistleblowers will be sent to the head of the internal audit unit. In this connection, the information will be kept confidential and presented to the Audit Committee who will, in turn, report it to the Board of Directors. As well, Thanachart Group has adopted a policy aiming at treating fairly and protecting those employees who refuse to get involved in corruption although such refusal may cause the organization to lose a business opportunity. Also, the whistleblower will receive a compliment.
- Thanachart Group has made arrangements for all Directors, executives, and employees to sign an agreement confirming that they will strictly adhere to the Anti-corruption Policy as well as the Anti-corruption measures and other related rules.
- Thanachart Group communicates with employees and develops them so that they are aware of and understand the guidelines on the implementation of the important policy, measures, and operational procedures related to Anti-corruption through the Group’s various channels and media. These include, among others, messages from the Chief Executive Officer to employees on Anti-corruption, organizing trainings on “Anti-Corruption for Executives” for Directors and high-ranking executives, inclusion of the topic on “Anti-corruption” as part of the new staff orientation curriculum, preparation for executives and employees of self-appraisal forms which are available through E-learning and Intranet systems. The self-appraisal will be conducted every six months. As well, the Group makes use of easily accessible presentations such as VTR short films by coordinating with the Office of National Counter Corruption Commission (NCCC) and the Anti-Corruption Organization in relation to topics such as communication and understanding enhancement about Anti-corruption.
- Thanachart Group publicizes its Anti-corruption campaigns through the e-mails sent to trading partners and business representatives, requesting for their cooperation and support. In particular, they are requested to refrain from giving presents to executives or employees of Thanachart Group, regardless of any festivals or any other occasions. As regards the customers, the Group asks for their cooperation on this matter through printed media such as invoices, receipts, payment vouchers, and tax invoices as well as through the websites of the Company.
- In appraising the performance related to the implementation of the Anti-corruption Policy and the related measures, the Audit Committee will be responsible for reviewing and ensuring that the member companies of Thanachart Group have put in place adequate internal control measures and that the conduct of business affairs are in line with the Anti-corruption Policy. The reviewing exercise is included in the annual work plan.
In this connection, in order to make the public aware of Thanachart Group’s intent in relation to Anti-corruption, Thanachart Group has brought its Anti-corruption Policy to the public notice by making it available through the website of each member company of the Group. On the part of the Company, it makes the policy available through its website.
In 2014, the Company and member companies of Thanachart Group became certified members of the CAC and started implementing activities aiming at preventing fraud and corruption in line with the established policy. In this connection, Thanachart Group reviewed its anti-corruption policy and measures, the related regulations as well as procedures with regard to assessment of corruption risks involving the public and private sectors. The objective was to ensure that the Group had put in place practice guidelines that were in line with the anti-corruption policy. All parties concerned were requested to sign an agreement to adhere to both the anti-corruption policy and measures. Thanachart Group also communicated the information to employees, providing them with knowledge and understanding of practice guidelines in line with the policy as well as key measures and procedures in relation to anti-corruption. The communication modes included training activities, self evaluation, and continuous distribution of the information through Thanachart Group’s various media channels. In addition, emails were sent to trading partners and business representatives annually, not only informing them of the anti-corruption policy and measures, but also requesting them to support anti-corruption campaigns and other related activities. For external organizations, Thanachart Group provided advice and its representatives served as lecturers on how to become certified members of the CAC. The main objective was to promote ethical behavior and organization-wide implementation of the anti-corruption measures. All employees were required to strictly adhere to the anti-corruption policy, measures as well as related regulations. As a result, the organization is transparent and without corruption on a sustainable basis. Not less importantly, customers feel confident and safe to make use of Thanachart Group’s services.
Later in 2017, Thanachart Group submitted membership renewal applications for the Group’s twelve member companies to the CAC. As well, it submitted membership applications for certification to the CAC for the Group’s newly formed companies including TM Broker and MT Services 2016. As a result, there were altogether 14 member companies of Thanachart Group which were the CAC’s certified members.
Thanachart Group were the CAC’s certified members which were altogether 14 member companies of Thanachart Group.
Thanachart Group has been implementing anti-corruption activities both within and without the organization since 2014. In 2017, there were main activities as follows:
- Organizing a training course titled “Development of Thailand’s Anti-Corruption Standards” for Thanachart Group’s executives. The objectives were to provide trainees with knowledge and understanding of the related overview and to make them recognize the importance of supporting work systems that enhanced effectiveness in fighting against corruption in the organization. In this connection, Thanachart Group had the honor of having Dr. Bandid Nijathaworn, President and CEO of the Thai Institute of Directors Association (IOD) as a lecturer of the course.
Organizing a training course titled “Development of Thailand’s Anti-Corruption Standards “for Thanachart Group’s executives. - Organizing a seminar titled “Thanachart extends invitations to join the campaign to fight against corruption” for trading partners and business representatives. The objectives were to inform participants of Thanachart Group’s anti-corruption policy and to provide them with awareness and understanding of the benefits to be gained from being certified members of the CAC. Participants were invited to become a member of the CAC and were given advice on the process of submitting the CAC membership applications. In this connection, two separate seminars were organized with details as follows:
First seminar: Thanachart Insurance organized a training seminar titled “Agents of insurance products” for its trading partners on 20 October 2017.
Second seminar: TBANK organized a seminar for its trading partners on 22 November 2017. The objective was to reiterate that Thanachart Group was “a moral organization which was transparent and without corruption”.
Organizing a seminar titled “Thanachart extends invitations to join the campaign to fight against corruption” for trading partners and business representatives. - Thanachart Group participated in a seminar titled “New Government! Old Corruption?” on the Anti-Corruption Day 2017, which was organized by the Anti-Corruption Organization (Thailand) which made 6th September of every year as the Anti-Corruption Day. In addition, Thanachart Group joined state agencies, private sector, and civil society organizations in expressing intent to fight against corruption and observing the International Anti-Corruption Day on 9 December 2017 under the theme of “Zero tolerance: Thai people will not tolerate corruption”.
Participating on the “Anti-Corruption Day 2017”
Joining in expressing intent to fight against corruption on the International Anti-Corruption Day under the theme of “Zero tolerance: Thai people will not tolerate corruption.”