GEOLOG is strongly committed to the highest ethical and legal standards and fully
compliant with the anti-corruption and anti-bribery business principles generally
GEOLOG fully adhered to and implemented all anti-corruption and anti-bribery principles set forth in the Organization for Economic Co-operation and Development (OECD) Convention on Combating Bribery of Foreign Public Officials in International Business Transactions UK ’s Bribery Act 2010 and the US Foreign Corruption Practices Act (FCPA). GEOLOG also constantly monitors the developments in the above legislation, re-assesses relevant risks and organizes training courses for its employees.
In light of the above, GEOLOG developed and is constantly improving a clear and effective anti-bribery and anti-corruption plan through the actions described below:
- Conducted a comprehensive risk assessment to identify potential exposure to bribery and corruption;
- Involved its top management and Board members to (i) clearly communicate the core values of the Group and (ii) devote appropriate time and internal resources to anti-bribery compliance issues and to monitor the effectiveness of anti-bribery programs and controls;
- Drafted and issued a detailed Code of Business Conduct and Anti-Corruption Policy;
- Re-organized recruitment procedures to be fully compliant with relevant anti-bribery and anti-corruption principles and regulations;
- Set up of whistleblowing facilities and compliance helpline and other reporting procedures;
- Trained all personnel at risk of bribery and/or corruption behaviors and practices;
- Introduced risk-based compliance due diligence checks on third parties.