​​​​​​​​​​​​​Reporting Breaches

​Breaches or compromise of this Code of Conduct are treated seriously and may result in disciplinary action up to and including termination of employment. Supervisors are responsible for overseeing a strict compliance with the Code of Conduct among employees. Moreover, supervisors or employees shall report any failure or suspected lapse in compliance with the provisions of this Code to the Compliance Department or supervisors immediately. The Compliance Department shall then report such breaches to the Corporate Governance Committee.

In 2021, there were 23 significant cases of the Code of Conduct breaches which include 22 cases of misconduct and 1 case of seeking undue benefits, all of which had been managed. The Bank had enhanced its risk management process and reviewed its internal control and compliance to ensure higher efficiency. For instance, customer authentication process has been elevated for material transactions and suspicious transaction monitoring through fraud-detecting system has been continuously enhanced to cover new forms of risks. The Bank had considered those cases and taken actions against those who failed to comply with the Code of Conduct through written warning, deduction of wages and termination of employment, as the case may be. Moreover, there were no complaints regarding anti-competitive practices.

The Bank has placed emphasis on personal data protection and security and therefore has established the Personal Data Protection Policy along with appropriate measures to prevent the infringement of Personal Data. Infringement of or failure to comply with the Personal Data Protection Policy shall be deemed as breach of the Bank’s directives and / or regulations, which may result in disciplinary action, as established by the Bank, from probation, deduction of wages, demotion and / or reduction in pay, up to termination of employment, as the case maybe. In 2021, no significant incident of customer data privacy infringement was detected.