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Corporate Responsibility

ANTI-CORRUPTION

Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery. 

Commitment & Policy: Kuoni is committed to doing business ethically and believes that bribery and corruption are wrong and not acceptable. According to the Kuoni Code of Conduct ("CoC"), each employee is obliged to comply with all applicable laws, rules and regulations as well as with internal regulations and guidelines. The CoC also states that gifts and hospitality may not be given, offered or received with the intent or prospect of influencing decision making or other conduct and refers to Kuoni’s Group Anti-Corruption Regulation (“Group Regulation”) for further guidance. The Group Regulation has been issued by Kuoni’s Board of Directors and is fully endorsed by the Group Executive Board. A similar statement has been published on the Kuoni Group website (Quick Search: XXX2). The VFS Global Division has issued its own Anti-Corruption Regulation ("VFS Regulation") in line with the Group Regulation. The focus in 2013 was on implementation → of the Group Regulation and the VFS Regulation. Further, a corruption risk assessment was conducted across the Kuoni Group and mitigation actions are being implemented.

Monitoring: All business units must maintain adequate compliance monitoring programs and Group Internal Audit reviews the effectiveness of the Regulation and compliance with it. Findings are reported to the Audit Committee and the Group Compliance Officer. Kuoni urges all employees to report any violation of the Regulation. Reports to the Group Compliance Officer can be made on a confidential basis or anonymously (whistleblowing).

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