Integrity
Avoiding Conflicts of Interest
WestLB attaches great importance to the due and proper business conduct of each individual employee. In 2005, our behavioural standards were laid down in the "Compliance Guidelines". These serve to highlight legal, economic or reputational risks and conflicts of interest that arise from our day-to-day busi-ness. The Group Compliance Department helps our employees to prevent infringements of laws and regulations.
To prevent corruption and bribery, our employees are regularly trained with regard to the regulations of the code of conduct. These regulations form an integral element of the training course organised as part of the introductory event for new employees. The problem of corruption is addressed in even greater detail at special anti-money laundering courses for high-risk business units.
Fighting Money Laundering
WestLB supports the fight against criminal activities through its “Anti Money Laundering Group Policy“, in which internal rules for the prevention of money laundering and the financing of terrorism have been laid down. All WestLB employees know which legal or internal regulations they must comply with.
To ensure that WestLB does not enter or maintain business relations that may entail legal risks or represent a punishable offence, the Bank analyses its clients and deals according to the “know-your-customer” principle. Suspicious transactions/clients are reported to the law enforcement authorities.