Ryt Bank's Anti-Bribery and Corruption ("ABC") Policy Statement
Ryt Bank ("the Bank") has established an ABC Policy ("the Policy") which outlines a strong commitment from the Bank towards maintaining the highest integrity and ethical standards. The Policy applies to all Bank Staff¹ and Associated Person².
Zero-Tolerance Stance
The Policy sets out a strong 'tone from the top' stance where the Bank upholds a zero-tolerance position towards bribery and corruption in any form.
ABC TRUST Programme
The Bank shall maintain an ABC TRUST Programme with the objective of minimising, mitigating, and managing bribery and corruption risks of the Bank, in line with the 5 TRUST Principles set out in the Guidelines on Adequate Procedures issued pursuant to Section 17A(5) of the MACC Act 2009, as follows:
| Principle | Description |
|---|---|
| Principle I | Top-Level Commitment |
| Principle II | Risk Assessment |
| Principle III | Undertakes Control Measures |
| Principle IV | Systematic Review, Monitoring and Enforcement |
| Principle V | Training and Communication |
Reporting Mechanism
Prompt reporting and resolution of corruption and bribery issues are crucial to ensure our businesses continually act in accordance with the Policy and all applicable laws.
Further details can be found in the Bank's Whistleblowing Policy Statement.
Consequences of Violation
All reports of bribery and corruption will be taken seriously for further action. Any violations can lead to severe consequences, including criminal and civil penalties, disciplinary actions, termination of employment or contracts and referral to law enforcement authorities.
¹Bank Staff means all staff of the Bank, whether temporary, fixed-term, or permanent.
²Associated Person means any directors, staff, seconded staff, interns, representatives, agents of the Bank including vendors, contractors, sub-contractors and any other entities that perform works or services for or on behalf of the Bank or any other person(s) associated with the Bank.