Conducting our business responsibly

Why this is Material to Us
As technology evolves and digital transformation accelerates, the financial services industry faces an increasing risk of cyber-attacks and data breaches. These threats can disrupt banking operations, compromise productivity and result in financial losses that impact both our customers and the organisation. Strengthening cybersecurity and data protection is vital to mitigating these risks, safeguarding information and maintaining trust and confidence among our customers, employees and key stakeholders. With new and stringent data protection laws continually emerging across Asia, ensuring compliance not only reduces the risk of regulatory sanctions but also strengthens customer confidence. By prioritising these measures, we protect against financial and reputational harm while ensuring the stability and integrity of our services in a rapidly changing digital landscape.

Our Management Approach
We have established a comprehensive strategy for the effective management of cyber risks and data breaches, focusing on safeguarding against threats and preventing potential fraud. Our approach integrates robust risk governance, skilled professionals, well-defined processes and advanced technology solutions to protect our customers’ information and assets from cyber threats and data breaches. Recognising the ever evolving landscape of cyber threats, we take a proactive approach by continually investing in innovative technologies to strengthen our defences. By adopting a whole-of-organisation approach to managing cyber risks and data breaches, we remain committed to building robust cyber resilience and data protection controls.

Find out more about:
Our Cybersecurity Programme

Why this is Material to Us
At OCBC, building and strengthening trust with our stakeholders is central to our operations. Since 1932, our commitment to upholding the highest ethical standards has established our reputation for integrity, reliability, and financial soundness. By nurturing strong, long-term relationships with our customers, we have built an invaluable franchise grounded in trust and confidence. Honesty and ethics remain at the core of our operations as we work to maintain and grow this trust. Guided by our Brand Promise - to be reliable, smart, and knowledgeable, and take a long-term view - we strive to foster enduring customer relationships. This commitment ensures that we consistently provide customised financial solutions, along with meaningful advice and support that address the unique needs of our customers.

Our Management Approach
Fair dealing is an integral part of our corporate culture and is guided by our Values. We are committed to:

• delivering clear, relevant, and timely information to enable our customers to make informed decisions;
• recommending products that are closely aligned with customers' financial objectives and risk profiles;
• enhancing the knowledge and competencies of our sales employees to ensure they provide appropriate advice and recommendations; and
• addressing customer feedback and complaints independently, effectively, and promptly, based on an independent internal complaint review body with well-defined procedures.

By upholding these Values, we continue to align with the spirit and intent of the MAS' Fair Dealing Guidelines, continuously refining our practices, processes and policies to maintain the highest standards of fairness and integrity. By setting the right culture, the Board and the senior management ensure that the fair dealing outcomes are achieved.

The Ethics and Conduct Committee oversees the implementation of fair dealing metrics, ensuring alignment with regulatory policies, guidelines and expectations related to fair dealing with customers. We also provide annual training on fair dealing to all employees, covering core principles related to consumer financial protection.

Why this is Material to Us
Financial crimes have the potential to disrupt banking services and cause financial losses to our customers, organisation and the broader economy. If mismanaged, these threats can lead to significant legal and reputational repercussions, severely compromising the integrity of the financial system and eroding the confidence of our stakeholders. To address this, we remain vigilant and resilient against financial crime threats, continuously strengthening our measures to safeguard the interests of our stakeholders and uphold the trust and confidence placed in us.

Our Management Approach
We recognise our responsibility to safeguard the integrity of the financial system and have implemented comprehensive financial crime prevention measures across the Group. Our comprehensive approach encompasses risk governance, effective processes, and advanced technology to effectively prevent and manage financial crimes, supported by the expertise of our skilled professionals. Therefore, we continuously upgrade our Fraud Management System to enable swift responses to incidents and effectively counter attacks in real time.

To stay vigilant, we continuously enhance our framework, policies, processes, and controls to combat emerging financial crime threats. We conduct mandatory training to strengthen employees’ awareness and expertise across the Group, and collaborate closely with law enforcement, financial institutions, and the broader community to collectively fight financial crimes. Furthermore, to mitigate money laundering risks, we regularly update our customers database to ensure consistency, completeness, and appropriate record-keeping.

Find out more about:
How to bank safely and securely

Why this is Material to Us
We recognise that effective leadership is crucial in shaping our governance and culture, fostering transparency, accountability and responsible business practices. Furthermore, considering our role in safeguarding our customers' and society's wealth, we are fully cognisant of the need to uphold robust controls and oversight over our business operations. Our governance framework enables us to promote ethical behaviour and decision-making, strengthening stakeholder trust and a culture of integrity and responsibility within the group.

Our Management Approach
Upholding the highest standards of corporate governance remains a key priority for us. Our Board provides leadership in promoting strong corporate governance, ensuring that OCBC is managed in the best interests of the Bank as a whole while taking into account the interests of shareholders, customers and other stakeholders. It has majority representation of independent Directors who collectively possess the skills, talents, experience and diversity required to discharge its responsibilities effectively, keeping in view the Group's strategic objectives. Annually, all Directors are evaluated on their independence, ability to perform on the relevant duties, and qualifications to remain in office.

Anti-Bribery and Corruption

• Our commitment to anti-bribery and corruption is fundamental in maintaining the trust and confidence of our customers, employees and shareholders. We continue to uphold the highest ethical standards in all our business dealings and relationships to ensure a fair and transparent environment.
• We adopt a zero-tolerance stance against bribery and corruption, where any form of corrupt payment or gratification involving employees and third parties associated with OCBC is prohibited, whether it takes place directly or indirectly. We have established a robust anti-bribery and corruption compliance programme with stringent control measures to mitigate bribery and corruption risks.

Sustainable Procurement

• OCBC’s Supplier Code of Conduct sets out our expectations across key areas:
• Business integrity and ethics
• Human rights
• Health and safety
• Environmental protection
• Suppliers must acknowledge the Code as part of our supplier onboarding process.
• At OCBC, we take ESG criteria into consideration in our procurement evaluation. For instance, our environmental requirements incorporate the use of recycled material, green certification and energy efficiency of equipment, among other criteria.
• Our evaluation process involves a panel of evaluators to ensure fairness and openness.
• The OCBC Code of Conduct is to be adhered to where suppliers and evaluators are to declare any conflict of interest.
• We also conduct ‘Know-Your-Vendor’ screening against our staff database, sanctions lists and online searches to detect any potential violation of OCBC’s policies.

Whistleblowing Programme

• OCBC is committed to the highest level of integrity and ethical standards. Our Whistleblowing Policy aims to provide a safe and anonymous platform for parties to raise fraud and misconduct concerns.
• The policy also governs the reporting and investigation of whistleblowing reports.
• Staff are continually reminded of the policy through the mandatory annual anti-fraud training that include the policy as a key topic, and information that is available internally.

Hotline:

• 800-110-1967

Find out more about:
Our Anti-bribery and Corruption Policy
Our Whistleblowing Programme