7. It requires disclosure of information about the relationships between the Company and employees as well as their spouses, relatives and business counterparts or counterparties to agreements. The objective is to prevent conflicts of interest. 8. Any act of pursuing personal benefits in a dishonest manner is considered disciplinary violation. Anti-Fraud and Anti-Corruption Thanachart Group fully realized that corruption produced harmful effects and was an obstacle to the country’s social and economic development, as well it also leads to unfair business practices. As a result, the Group cooperated with the Private Sector Collective Action Coalition Against Corruption (CAC) by declaring its intention and becoming a member of the Coalition since 2014. In the third quarter of 2020, the certifications and memberships of the Company and member companies of Thanachart Group got extended. In this connection, Thanachart Group put in place the following Anti-corruption Policies, measures as well as related work procedures and processes, to which all employees were required to adhere. 1. The Boards of Directors of the Company and member companies of Thanachart Group approved Anti-corruption Policies which were reviewed regularly. The policies clearly define “corruption and various forms of corruptions”. Essentially, Directors, executives, and employees were prohibited from seeking benefits, participating in or accepting any forms of corruption, directly or indirectly, regardless of whether the benefits were for the organization, themselves, their family, friends or acquaintances. They were required to act as a role model. Moreover, executives of Thanachart Group were responsible for overseeing and supporting the implementation of the related measures. As well, the appropriateness of the various measures was subject to regular review, ensuring that they were in line with the changes in business, rules and regulations as well as legal requirements. 2. 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, • Professional : possessing adequate knowledge and ability to perform one’s duties. 3. As regards the corruption risk assessment, each member company 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. Among others, this includes risk identification, determination of risk levels, as well as establishment of internal control systems aiming at controlling and mitigating risks for the purpose of preventing corruption risks. Also noteworthy are the follow-up and review of the corruption risks which shall be conducted in a regular manner in every three years, or any time there was a change to various risk factors that had significant impacts on the operational processes. In this connection, the progress of work plans and the implementation of risk control measures were closely monitored. And the related assessment reports shall be sent regularly to the Audit Committee and Board of Directors for information. 4. Thanachart Group has established Anti-corruption measures, to which the employees of Thanachart 193 56-1 One Report / Annual Report 2021 Thanachart Capital Publ ic Company Limited
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