Persistence of Incorruptibility and Self-Discipline, and Prohibition of Fraudulent Practices -Huabao On-Line Anti-Fraud and Anti-Bribery Training

On 20 May, the HR and Administration Department of Huabao Flavours & Fragrances Co., Ltd. (Huabao) launched an anti-fraud and anti-bribery themed training, aiming at securing its healthy and sustainable development, establishing an operation system with legal and regulatory compliance and a long-term governance and warning system, and enhancing employees’ risk awareness and shaping their behaviors.

Considering the epidemic, the training and test were held on-line. Audit Manager ZHU Yunfei from the Audit Department of Huabao served as the lecturer to present the introduction of anti-fraud and anti-bribery knowledge.

During the training, Mr. ZHU has introduced cases, laws and regulations and related theories of fraud and bribery, and explained the Company’s plans for anti-fraud and anti-bribery works. Live case studies also include introduction of familiar laws and regulations related to fraud. Statement about the definition, form and consequence of fraud and bribery further enhance employees’ understanding over these illegal practices. Interpretation of Huabao’s plans for anti-fraud and anti-bribery works at each level urge employees to avoid risk, enhance their vigilance and develop honest and self-discipline habits.

Huabao has been established a long-term warning system for fraud and bribery. For instance, it released the Anti-Fraud and Reporting System of Huabao Flavours & Fragrances Co., Ltd. (for trial implementation) on 22 January 2021 and the Anti-Fraud and Anti-Bribery and Reporting System of Huabao Flavours & Fragrances Co., Ltd. and the Regulations for Anti-Fraud Management of Huabao Flavours & Fragrances Co., Ltd. on 18 November 2021. Above mentioned regulations mainly explain the concept of fraud and bribery, anti-fraud and anti-bribery systems and actions, remedial measures and related punishments. The training was designed to further enhance employees’ understanding and awareness of anti-fraud and anti-bribery practices, and their compliances.

As fraud and bribery might damage its brand reputation and public image, and result to termination of business operation, closedown and even bankruptcy, the Company implements a policy of zero tolerance for all kinds of fraud and bribery. In the future, the Company will take the including collective learning and publicizing of “anti-fraud and anti-bribery” concepts based on the requirements of ISO 37001:2016 Anti-Bribery Management Systems, so as to motivate employees developing the right values, professional ethics and practices, establish a corporate culture of faith, integrity and incorruptibility, and safeguard the justice and equity in business market as well as the compliance and healthy operation of the Company.