We don’t tolerate corruption

Corruption erodes trust and undermines legitimate business activities and fair dealings. It has a negative impact on companies, people, and society, which is why it’s illegal according to international and local laws.
Corruption has an adverse impact on our company, culture and reputation, and it poses a significant risk to running a sustainable and responsible business.
We have a zero-tolerance policy for corruption and other economic crimes.

Defined
Corruption is the abuse of entrusted power for private gain. It may include acts such as bribery, trading in influence and facilitation payments, among others.
Bribery is the act of offering, providing, authorising or receiving an improper financial or other advantage intended to influence a transaction or decision or to encourage misuse of a person’s position.
Trading in influence is bribery of an intermediary/third party in relation to his/her work to influence someone.
Facilitation payments are payments offered or made to a public official to secure or speed up a public decision or approval process that is both routine and necessary.

What is Schibsted’s responsibility?

We act with a high degree of transparency and integrity to ensure our actions and decisions are always in the best interest of our customers, our business and society.
We are committed to acting professionally and fairly in all our business activities and relationships wherever we operate.
We will continue to implement and enforce effective systems to counter corruption.

 Explained
Corrupt payments often have certain characteristics:
Personal enrichment of decision-makers (in the public or private sector) or of someone in Schibsted
Not offered or given in a transparent manner
Given with the intent of influencing certain decisions, such as a tender, contract negotiations, a permit or license from a public office, or the decision to enter a joint venture
Measures are taken to hide or disguise the money trail

What is expected of me?

  • Strive for the highest standards of transparency and integrity, always.
  • Maintain books and records to reflect our business accurately and fairly.
  • Assess and discuss potential or actual corruption risks transparently.
  • Ensure that everyone we work with understands that bribery and corruption are unacceptable to us.
  • Raise concerns promptly if corruption or other economic crimes are suspected or known in Schibsted or to any party with whom we do business.
  • Evaluate potential corruption risks and mitigate any potential identified risks when entering new relationships with business partners.
 Guidelines
How to handle gifts and hospitality when representing Schibsted:
Ensure all expenses comply with applicable laws and internal guidelines.
Have a proper business context when accepting, offering or receiving business hospitality.
Gifts and business hospitality must never be extravagant and should be in line with customary business practices.
No gifts or business hospitality may be given or received during a tender or bidding process.
Cash or cash equivalents may never be offered, given or received.
When assessing whether business hospitality offered is appropriate, assess not only monetary value but also the frequency.

Find out more

Contact:
Group Compliance Officer