Anti Corruption Statement and Policy
The Royal Mint Ltd Anti Corruption Statement
The Royal Mint Ltd makes and distributes coins in the UK and is also the world's leading export mint. We operate around the world and we pride ourselves on our reputation for acting fairly and ethically wherever we do business. Our reputation is built on our values as a company, the values of our employees and our collective commitment to acting with honesty, integrity and trust throughout our organisation.
The Royal Mint Ltd condemns corruption in all its forms and we will not tolerate it in our business or in those we do business with. From the confines of our working environments, it is sometimes difficult to grasp the scale of the damage that bribery does to societies. It is not a victimless crime; far from it:
"Corruption … undermines democracy and the rule of law, leads to violations of human rights, distorts markets, erodes the quality of life and allows organised crime, terrorism and other threats to human security to flourish. This evil phenomenon is found in all countries - big and small, rich and poor…corruption hurts the poor disproportionately by diverting funds intended for development, undermining a government's ability to provide basic services, feeding inequality and injustice and discouraging foreign aid and investment. Corruption is a key element in economic under-performance and a major obstacle to poverty alleviation and development." (Kofi Annan, former UN Secretary General)
Our Anti Corruption Policy sets out in detail how we expect all persons to behave in their day to day duties as employees, or other workers, full or part time, of the Royal Mint Ltd or on occasions where you are required to carry out a representational role on behalf of the Royal Mint Ltd. The Policy sets out what you should do if you are confronted with corruption. We expect that all of you will embrace the Policy and use it in all aspects of your day-to-day work.
The Policy is for your benefit as much as for The Royal Mint's. If convicted of a bribery offence, The Royal Mint Ltd can face a significant fine and suffer lasting reputational damage. If you are convicted of a bribery offence, you could face up to ten years in prison. The potential harm done by bribery, both to The Royal Mint Ltd and to you, is both severe and long term and completely outweighs any potential short term gain. If an allegation is made in this regard, the employee in question will be required to demonstrate that any act has not been carried out in a corrupt manner.
If you have any doubts or wish to raise any concerns regarding any potential corrupt activities please refer to the Policy or you can speak to a member of the Board of the Royal Mint Ltd or of the Audit Committee in complete confidence. We are committed to eradicating corruption and we will always stand by you in acting ethically.
Remember, take the RIGHT approach, and we can eradicate corruption together:
Responsibility. You are responsible for your actions. Bribery is a criminal offence. If you break the law, you will face the consequences - which could mean a fine, imprisonment, or both.
Integrity. Never compromise your integrity. If you think something is wrong, ALWAYS report it. If you aren't sure, consult the Anti Corruption Policy. Never let yourself be forced into doing something you know or suspect is wrong.
Genuineness. Always pay genuine prices for genuine goods and services. Never pay over the odds. Agents who ask for especially large fees or commissions may do so in order to pay bribes on your behalf. If this happens, you will be responsible. Excessive payments are obvious and will always be uncovered.
Honesty. Act honestly and in good faith at all times and in all aspects of your work.
Transparency. Keep accurate records (including all invoices and receipts) especially in relation to the payments you make and what they are for. Full and accurate records demonstrate complete transparency and that you have nothing to hide.
Don't bribe. Do the RIGHT thing.
The Board of The Royal Mint Ltd