Introduction to ComplyAdvantage
ComplyAdvantage, also known as IVXS UK Limited, is a cloud-based Software as a Service (SaaS) company established in 2014. Since its inception, ComplyAdvantage has been dedicated to reducing the risks associated with money laundering, terrorist financing, corruption, and other financial crimes globally. Operating across various locations such as New York, London, Portugal, Singapore, and Romania, ComplyAdvantage offers dynamic real-time insights into financial crime risks.
Modern Slavery Act Statement
ComplyAdvantage places a significant emphasis on ethical trading, responsible sourcing, and the prevention of modern slavery and human trafficking within its organization and supply chain. The company's Modern Slavery Act statement outlines key activities undertaken during the financial year to combat modern slavery effectively. With a low-risk assessment regarding modern slavery due to the nature of its services, ComplyAdvantage maintains updated policies and procedures aimed at ensuring ethical business conduct and integrity at all levels.
Policies and Procedures
ComplyAdvantage maintains robust policies such as a Code of Ethics, an Approach to ESG (Environmental, Social, and Governance), a Procurement Manual, an Employee Handbook, and a Pre-employment screening policy to prevent modern slavery and human trafficking. The company regularly reviews and updates these policies to align with its commitment to ethical practices. Moreover, ComplyAdvantage conducts due diligence on suppliers, focusing on high-risk countries, labor-intensive products, poorly regulated sectors, and countries to mitigate modern slavery risks efficiently.
Supplier Adherence and Compliance
With zero tolerance for slavery and human trafficking, ComplyAdvantage ensures that all suppliers and contractors adhere to its values and ethics through a comprehensive supply chain compliance program. The company conducts due diligence throughout the engagement period involving various departments like Information Security, Legal, Human Resources, and Training. Regular staff training further enhances understanding and awareness of modern slavery risks within the supply chain and business operations.
Effectiveness and Further Steps
ComplyAdvantage consistently evaluates its effectiveness in combating slavery and human trafficking, striving to maintain a transparent and ethical business environment. The company plans to increase staff awareness and conduct audits on supplier adherence to further enhance its measures against modern slavery. By taking proactive steps and fostering a culture that prioritizes ethical practices, ComplyAdvantage reinforces its commitment to combating modern slavery effectively.