GNCC Capital, Inc. prohibits and will take active steps against fraud and corruption in all its forms, including bribery and extortion. Even the appearance of fraud, bribery and corruption must be avoided. Fraud, corruption and bribery are not only illegal but also unethical and inimical to the good of any society or organization.
Fraud includes cheating, forgery, misappropriation, altering documents and records, preparing and using fictitious and fraudulent information and reports, submitting false expense reports and deliberately failing to report known fraudulent acts. Bribery involves the promise, offer, giving or receiving a benefit or anything of value, including cash, gifts, entertainment, or other advantage or gratification intended to unfairly influence a business decision or obtain an unfair business advantage.
Corruption involves the misuse of entrusted authority or power for personal benefit or for the gain of third parties. It includes offering, giving or receiving payment of any value with the intent of obtaining and retaining business, obtaining an unfair advantage over others, illegally or improperly influencing decision-making or exercise of authority, securing selective treatment or entering into an unfair arrangement. Forms of corruption include nepotism, favoritism, conflict of interest and abuse of authority. Certain laws: The Foreign Corrupt Practices Act of the United States of America, The Anti-Bribery Act of the United Kingdom and the Prevention and Combating of Corrupt Practices Act of South Africa apply extra territorially and prohibit corruption of government officials and others by citizens, residents and entities incorporated in those countries.
The term “government official” includes an employee of a government, governmental organization, government controlled entity and enterprise, public international organization, political party, official thereof or candidate for political office. Violation of laws on fraud and corruption can have serious consequences for both the company and the employee ranging from fines, penalties, restrictions, loss of licenses and imprisonment.
Employees are prohibited from providing, offering or promising any form of payment, including gifts and entertainment, directly or indirectly, to any person or public official or his/her proxy or agent in order to influence an official act or decision making, gain an advantage, secure or retain business, influence any decision or official directive concerning the company, influence the enactment, modification and enforcement of laws and regulations, or secure any selective treatment. Under no circumstance should the company’s systems, facilities, resources and networks be used for illegal purposes, including the facilitation of corruption or money laundering. Payment of fees and charges in favor of consultants and agents for services provided should only be made or remitted to third parties if authorized in writing by the consultant or agent earning the fee and only if such payment will not cause the company to violate any law, directive or corporate policy. Cases of extortion must be reported as soon as practicable to your manager for the right course of action to be taken or to enforcement authorities depending on the circumstances. Misuse of financial and privileged information, concealment and misrepresentation of facts and figures, manipulation of accounting, financial, personnel, environmental and operational records and plans are prohibited.