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Compliance Control Division of FUIB carries out monitoring of the compliance with the principles of conscientiousness when providing services for customers, bank secrecy, compliance of the products and services offered by the bank with client's expectations. Moreover, Compliance Control Division ensures control over the reliability, completeness, objectivity and timeliness of the information provided by the bank in accordance with laws and regulations for public authorities, partners, clients and the public.

The Bank provides the society with truthful and accurate information about its processes, products and services. FUIB constantly improves business transparency. The Bank timely discloses complete and reliable information, including information about its financial position and economic indicators. Thus, shareholders and investors can make informed decisions and customers have the necessary information about their financial partner.

Procedure for declaration of external activities of the personnel has been functioning in the bank since 2012 and it was updated in 2023. It is established there that employees shall necessarily inform the bank about their external activities. This information is analyzed and it is determined whether or not conflict of interest exists between the employee, the bank, its customers and counterparties. Furthermore, the Procedure for delivery and receipt of gifts and invitations has been in effect in the bank since 2012 and it was updated in 2023. 

Anti-monopoly Compliance Policy, the main purpose of which is to prevent the occurrence of violations in the field of competition law on the part of responsible divisions of the bank, was approved by the bank in 2014 and updated in 2022.

In 2016, FUIB adopted the “Anti-Corruption Program of JSC FUIB” and finalized in 2019. It establishes a set of rules, standards and procedures for identifying, counteracting and preventing corruption and is applied in all areas of the bank's activities.

In 2023, FUIB did not record any facts of criminal prosecution of employees in connection with corruption violations. The methodology of combating corruption is conservative, the main measures are training, responding to requests from customers and bank staff, and verifying the validity of charitable assistance.

Ethics and Business Conduct Committee, which is comprised of the top managers of the bank, was created and operates in the bank. The Committee ensures the implementation in FUIB of uniform standards and principles of the SCM businesses in the field of corporate ethics and business conduct.

Scope of duties of the Committee includes:

  • reaction to the appeals concerning violations and control over the compliance with the Code requirements;
  • development of recommendations to improve bank's business ethics;
  • organization of monitoring of the impact of business ethics standards on the corporate culture of FUIB.

The following internal processes are implemented in FUIB to provide the compliance with corporate ethics and prevention of corruption:

  • Trust Line. A single “Trust Line” has been working in FUIB and in all other companies of the SCM since 2013. It helps to react promptly and efficiently to violations of corporate ethics principles, abuses, machinations and corruption. Employees, suppliers and partners can call the Trust Line and report violations they come across when working with the SCM companies.
  • Compliance function. The compliance function in the bank is provided by the Compliance Control Division, which is headed by the Head of the Division (CCO)
  • Financial and economic security. A special division, which is involved, among other things, in detecting corruption and counteracting it, operates within the bank's Security Department. Deputy Chairman of the Bank's Board, who is the curator of the Security Department, was appointed the Commissioner for the implementation of the Anti-Corruption Program in the Bank.
  • Operational risk management system. The bank has implemented a Risk Management Policy and an Operational Risk Management System operates in the bank. In it, risk officers (employees assigned by the Order in each FUIB subdivision or branch) on an ongoing basis provide the fixation of information about the facts of operational and compliance risk realization, including revealed facts of corruption, fraud in all its manifestations, deliberate actions by staff or third parties. According to the information obtained, the Security Department is investigating and developing measures to prevent the recurrence of similar facts in the future.

FUIB has implemented a zero fraud tolerance policy.

The Supervisory Board and the Board support a zero tolerance policy against fraud and call on all staff to act in the interests of the bank, its owners (shareholders), clients and society, as well as to safeguard the trusted resources, prevent abuse of rights and powers. The fraud/suspected fraud investigation is conducted regardless of the level of risk involved, the position/office of the employee or the contractor's relationship with FUIB.