Muang Thai Life Assurance Public Company Limited is aware of the importance of business operation and management which need to be conducted based on an integrity, transparency, and responsibilities to society and all stakeholders according to the good corporate governance. Therefore, the Company has formulated this Anti-Corruption Policy with a purpose of prohibition on any kinds of corruption. Directors, executives, employees as well as a third party relating to the Company must not commit corruption. The Company does not allow any kinds of corruption including the corruption in businesses and responsible work units, and all transactions in every country. At the same time, the Company has formulated procedures for anti-corruption in detail. In order to comply with this Policy, the Company shall review the procedures regularly to be suitable with the business operation and comply with the laws. In this regard, directors, executives, and employees are all required to comply with this Policy.
“Corruption” means fraudulent action by giving, offering to give, or promising to give assets or benefits to officers of government, officers of foreign government, officers of international organizations(1), organizations, institutes, or other persons as for convincing them to act, not to act or delay act unlawfully in order to acquire any benefits or maintain any benefits for oneself or others.
It shall include any forms of fraudulent actions by requesting, receiving, or promising to receive assets or any benefits for oneself or others unlawfully in order to act or not to act lawfully or unlawfully.
It shall also include any actions that might indicate such fraud.
(1) Organic Law on Anti-Corruption B.E. 2561, Section 176
1) Board of Directors
2) Audit Committee
3) President and executives
4) Anti-corruption working team
5) Employees of the Company
1) Directors, executives, all employees, including individuals and juristic persons who work on behalf of or act on behalf of the Company must comply with the Anti-Corruption Policy and must not get involved in corruption either directly or indirectly, including all businesses and transactions in every country such as any kinds of giving/accepting bribes.
2) The Company is aware of the importance in publicizing, giving knowledge and establishing understanding with other people or other agencies that are required to comply with the Anti-Corruption Policy, including notifying of whistleblowing channels.
3) The Company intends to build and preserve the organization culture of zero tolerance of corruption on making transactions with public and private sectors.
4) The Company shall give justice and protect personnel who deny or report the corruption relevant to the Company by applying a protection measure to a whistleblower or collaborator in reporting the corruption as specified by the Company.
5) A person who commits corruption will be regarded as breaching the good corporate governance of the Company and must receive disciplinary punishment according to the Company’s rules.
Anti-Corruption Measure is formulated to combat risks and corruption. Directors, executives and all employees must comply with Compliance Policy, Anti-Corruption Policy, No Gift Policy, Conflict of Interest Prevention and Management Policy, relevant rules and operation manuals and other guidelines specified by the Company.
1) Political assistance
To comply with the Code of Conduct and Business Ethics and the Company's Anti-Corruption Policy, guidelines for political assistance (2) are set as follows:
2) Charitable donations, grants, gifts, entertainment and other expenses
Employees are required to check charitable organizations, foundations, companies, and stores to which the Company will make donations and/or provide financial support. It must be ensured that donations and support will not be used as pretext for bribery and must act transparently by specifying the name of donor and/or sponsor. It must be able to prove that such activities bring real benefits to society and/or in accordance with the objectives of the operations of the Company and the guidelines for charitable contributions, sponsorship, gifts, hospitality, and expenses. (3)
Employees are prohibited to receive gifts from partners or business partners in order to show integrity, transparency, confidence and trust from all sectors. If it is not possible to refuse, follow No Gift Policy. (4)
3) Human resources management
The Company has taken steps to support the Anti-corruption Policy, starting from the process of recruiting or selecting personnel who have no record of offense or being punished for corruption to work with the Company, including promotion, performance evaluation and compensation. In addition, the Company also provides training for employees regarding anti-corruption measures by providing orientation to new employees and regularly testing the employees to create knowledge, understanding and raise awareness about anti-corruption culture in the organization
4) Corruption risk assessment
A corruption risk assessment form must be made available for departments that are at risk of giving bribes to government officers, officers of foreign government, officers of international organizations or third parties. Therefore, anti-corruption measures can be defined to effectively prevent corruption and risks. Risks must be regularly reviewed and reported to Operational Risk Management Committee every year
5) Internal control management
The Company has set internal controls in order to check the preparation of financial reports, accounting process, and storage of documents, financial evidence and other information as planned and in accordance with laws and the Anti-Corruption Policy
6) Communication of policy and data reporting
1) The Company shall treat the information and identity of whistleblower and reported person confidential.
2) The Company shall reveal the information as deemed necessary only and take into account the safety and damage of whistleblower, source of information, or relevant parties.
3) The person who receives damage from the compliance with Anti-Corruption Policy shall receive the suitable and fair damage remediation.
4) In case whistleblowers or persons who cooperate in inspecting facts feel that they may not be safe or receive any damages, they can request the Company to establish appropriate protection measure; or the Company may establish the protection measure without any request from such persons if the Company deems that it is likely to cause damage, or to be unsafe.
5) The Company shall not perform any unfair actions whether by rotation from current position, change of job description, relocation, suspension from work, intimidation, disturbance in his/her work, termination of employment, or any other unfair actions to the whistleblowers or persons who cooperate in inspecting facts.
This Policy is considered as a main policy which authorizes the anti-corruption working team to issue related manuals or guidelines and to review and update the Policy.
The Company established the investigation measure and deemed that compliance with the Anti–Corruption Policy is considered as a discipline, which the directors, executives, and all employees shall apply strictly. The employee who does not comply with the Anti–Corruption Policy shall be punished according to the Company’s rules or laws.