Overview

It is recognised that bribery and corruption have an adverse effect on communities wherever they occur. If endemic, they impede economic growth and undermine accountability, threaten laws, democratic processes and basic human freedoms, impoverishing states and distorting free trade and competition. Corruption is often associated with organised crime, money laundering and, on occasions, the financing of terrorism.

We are committed to improving the financial wellbeing of our customers and communities by embedding a zero appetite culture towards bribery, corruption and facilitation payments across all areas and levels of the business.

Anti-bribery and corruption policy

Our Anti-bribery and corruption policy supports our zero appetite towards bribery, corruption and facilitation payments.

Our policy serves as a single and consistent anti-bribery and corruption standard across the Group. It is designed to comply with the Australian Criminal Code Act 1995, the US Foreign Corrupt Practices Act 1977, the UK Bribery Act 2010 and all other anti-bribery and corruption related laws relevant to the locations in which the Group operates.

Amongst the key principles of the policy, it should be noted that:

  • The Group has zero appetite towards bribery, corruption and facilitation payments
  • The giving, receiving, offering, promising, requesting or authorising of a bribe is expressly prohibited
  • Training and awareness about our zero appetite for bribery, corruption and facilitation payments is conducted across the Group
  • All senior managers in the Group are committed to supporting the policy across their teams. Communication about the policy is undertaken by the CEO and the executive team
  • Business activities must be transparent, sufficiently documented and above suspicion
  • The Group has a SpeakUP (“whistleblowing”) hotline available for any concerns to be raised
  • Due diligence is conducted on employees and on those who are doing business with, or on behalf of, the Group
  • The policy principles extend to all employees, directors, temporary staff, contractors, suppliers, service providers, agents and other third parties acting for or on behalf of the Group.

Read our Anti-bribery and corruption policy

Gifts and entertainment

Customers and business associates may offer to show their appreciation by providing gifts and entertainment to Commonwealth Bank Group employees. Accepting or offering gifts and entertainment can be problematic because it may lead others to believe that decisions have been improperly influenced.  In some cases, where high-value gifts or entertainment have been offered, received, given or promised, this could be perceived as offering or accepting a bribe.

Our Gifts and Entertainment Policy and procedures are in place to ensure that employees do not offer or receive gifts or entertainment which could be seen as being inappropriate, be a breach of regulatory obligations, and/or which may give rise to actual, perceived or potential conflicts of interest.

Speak Up

We place great importance on fostering a culture that encourages employees and others to speak up about issues or conduct that concerns them. This could be anything from serious misconduct to noticing something which just doesn’t feel quite right. 

Sometimes individuals speaking up or making a disclosure may be concerned about being identified, or any potential repercussions which may come from reporting the conduct. This is why we have a comprehensive Group Whistleblower Policy, which is designed to encourage and support individuals to report issues, knowing that it is safe to do so and that they will receive support. Individuals are also free to make a disclosure directly to our regulators at any time.

Find out more