March 8, 2021

The Central Bank of Ecuador enforces its anti-bribery policy

The Central Bank of Ecuador (ECB) announced on Tuesday the entry into force of a policy against bribery, which seeks to guarantee transparency in the framework of an anti-corruption strategy promoted by the Executive.

With these types of programs, the ECB can "establish global, moral and ethical standards that prohibit, prevent, detect and sanction all kinds of bribery acts, in order to guarantee transparency in the public service, as well as trust in the collaborators, "he said in a statement.

Under that purpose, 27 ECB servers, certified by the Société Générale de Surveillance (SGS) of Ecuador, will act as internal auditors and verify the implementation of the anti-bribery management system in the institution.

With this, the Central Bank seeks to apply for the certification of the international standard ISO 37001: 2016 – Anti-bribery Management Systems, added the entity.

The application of this rule obliges the ECB to carry out regular assessments of the risk of bribery and guarantees confidentiality in the event that a good faith complaint about illegal actions arises.

"We are sure that the transparency of the Central Bank of Ecuador is reflected in the 27 officials who were trained as certified auditors for the Anti-Bribery Management System," insisted its manager, Veronica Artola.

The Anticorruption Secretary of Ecuador, Iván Granda, recalled that the Central Bank's anti-bribery policy joins other similar initiatives applied in other state institutions.

"We started with the six largest public companies, in addition to the National Public Procurement Service and today the Central Bank joins this process that strengthens our fight every day" against corruption, Granda added.

Ecuador seeks to make a common front to try to eradicate bribery, "one of the corrupt practices that moves approximately 2.7 billion dollars in the world," according to data from the Organization for Economic Cooperation and Development (OECD) and the World Bank, The ECB statement said.

. (tagsToTranslate) Bank (t) Central (t) Ecuador (t) anti-bribery policy (t)

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