Enterprise governance and compliance

FRAUD AND ZERO TOLERANCE

The provisions of the Prevention and Combating of Corrupt Activities Act of 2002 are incorporated into the Nedbank Fraud and Corrupt Activities Policy to ensure compliance with this act. During 2008 the group reported a total of 891 such matters to the South African Police Service in terms of the act.

Nedbank Group’s zero tolerance policy ensures that any fraudulent behaviour results in dismissal of the employee and the reporting of the incident to SAPS. Monthly emails are sent to all staffmembers highlighting cases where employees have been dismissed as a result of their engagement in fraudulent conduct, identifying the people involved and providing learning opportunities from each situation. Unfortunately, 2008 saw a significant increase (41,5%) in the number of staffmembers dismissed for dishonesty. This increase is attributed primarily to the prevailing difficult socioeconomic conditions.

We continue to use the services of Tip-offs Anonymous® to ensure anonymity for those wishing to report any wrongdoing, non-compliance with the law or company policies and procedures, abuse or misuse of company assets, bribery and/or corruption, sensitive issues and financial misstatements. Staff and clients are able to contact Tip-offs Anonymous® on the dedicated tollfree number
0800 000 909.

Staff dismissal for dishonesty