Bank of Cyprus Group engenders a truly transparent ethical and compliance culture that encourages accountability and detects and discourages any form of misconduct. As part of this program Bank of Cyprus has implemented a whistleblowing procedure that provides confidential and secure means for our employees to report and raise concerns about practices or conduct that is contrary to our values and principles.
In a message to employees promoting the process of whistleblowing, the Group CEO Mr. John Hourican stated:
‘Integrity and accountability are core values for us at Bank of Cyprus and are fundamental to the success of our Group. With this in mind, we encourage you to speak up when you do not feel comfortable to use other normal channels and use the whistleblowing procedure to report suspected violations and raise concerns about practices or conduct that is contrary to our values and principles....
…….Be assured that retaliation, harassment or intimidation against any employee who raises concerns in good faith will not be tolerated.
........We rely on you to uphold our core values of ethics and conduct our business honestly, fairly and with integrity. So please Speak Up on matters that you believe need your voice’
More specifically, the Policy general principles include:
- Concerns in good faith, about wrongdoing or malpractice are raised in confidence or anonymously without fear of victimization, discrimination, disadvantage or dismissal.
- A climate of accountability is promoted with respect to Group resources, including its employees and key stakeholders.
- Procedures for the reporting of any matters of concern are clearly provided. The persons concerned are able to bypass the main channels for whistleblowing if these prove inappropriate, and use the anonymous/confidential reporting line.
- Disclosures are managed in a timely consistent and professional manner
- Reported incidents will be verified in the appropriate manner and if confirmed, the Bank shall take all necessary steps to identify appropriate remedies.