Preventing fraud and fighting corruption

Preventing fraud

A fraud prevention unit was set up at Crédit Agricole S.A.'s Compliance Division in September 2008 to provide a Group-wide overview of the different types of fraud (payment methods, electronic payment, credit, stock market, insurance, etc.) and to coordinate and oversee anti-fraud measures. This unit works in tandem with the other relevant complementary control or support functions: Permanent Control and Risk, Inspectorate/Audit, Legal Affairs and IT and Payment System Security. There are Fraud Prevention Officers who implement and adapt the fraud prevention system to their own Group entity. Reports are submitted so that an annual assessment can be carried out.

Fighting corruption

The Crédit Agricole Group believes that fighting corruption is a major component of good business practice. Keen to demonstrate its commitment to fighting corruption and the quality of its programme, the Crédit Agricole Group appointed an independent third party to evaluate its systems. This anti-corruption certification process, which is led by a specialist firm, began in 2015 and was continued in each of the next two years.

It aims to certify that:

• the Crédit Agricole Group has correctly identified and analysed corruption risks;
• the anti-corruption programme is designed in such a way as to limit these risks and conform to international best practice as set out in the various applicable regulations and guidelines;
• the programme is in force and correctly deployed at the different Crédit Agricole Group entities.

The Crédit Agricole Group obtained BS 10500 certification in July 2016 and ISO 37001 in July 2017, becoming the first French bank to be certified in this way. This certification recognises the Group's determination to prevent corruption and the quality of its programme. It certifies that corruption risks have been correctly identified and analysed, and that the programme adopted by Crédit Agricole is designed in such a way as to limit these risks by implementing international best practice.  It covers all the Crédit Agricole Group’s business lines: retail banking, corporate banking, asset management, private banking, etc.

This certification demonstrates Crédit Agricole's long-standing commitment to business ethics as a core component of its corporate social responsibility policy.

It is an ongoing part of a quest for operational excellence and our ambition to manage all financial and non-financial risks.

In addition, as at the end of 2016, 94% of Crédit Agricole S.A. employees had received anti-corruption training.

The Crédit Agricole Group continues its commitment by enforcing the law of 9 December 2016 on transparency, anti-corruption and economic modernisation across all its entities.