Fighting corruction and money laundering

Intesa Sanpaolo is committed to contributing to the fight against corruption, supporting the OECD (Organisation for Economic Co-operation and Development) Guidelines and the anti-corruption principles established by the United Nations, also through the "zero tolerance" approach. Intesa Sanpaolo's internal policies also provide that political parties and movements cannot be recipients of donations and sponsorships.

The Group has defined high standards of compliance for all its people, sanctioned primarily by the Code of Ethics (the corporate objectives must be pursued with honesty, correctness and responsibility, in full and substantial compliance with the rules, professional ethics and spirit of the signed agreements) and by the Code of Conduct.

 UN SDG SUPPORTED

The Group Anti-Corruption Guidelines, approved by the Board of Directors, already adopted as of 2017 and updated in 2023, identify principles and sensitive areas and define the roles, responsibilities and macro-processes for the management of this risk.

In compliance with the regulatory provisions of the legislator and the sector supervisory authorities and taking inspiration from the international standards contained in the FATF (International Financial Action Task Force) Recommendations, the Group has adopted procedures, tools and controls aimed at mitigating the risk of being involved, even unknowingly, in money laundering, terrorist financing, violation of embargoes and armaments legislation.

In terms of combating money laundering, the Group has also adopted a more rigorous approach, going beyond what is required by the regulations, by providing for greater diligence assessments from a credit and reputational point of view in order to avoid its involvement, in any capacity, in transactions with counterparties o Countries subject to embargo measures, even when the transaction fall among those permitted by the restrictive measures issued by international authorities. The Group Guidelines on the matter constitute a systematic and functional framework, marked by the principle of active collaboration by the Group in the prevention of such illicit activities.

To strengthen compliance with internal and external regulations, specific mandatory training is conducted, which follows multi-year cycles, also according to local requirements.

The Group has long had the UNI ISO 37001:2016 Anti-bribery management systems certification, which concerns Intesa Sanpaolo (including foreign branches), banking entities and the main financial and insurance entities. The certification was renewed in 2022 and it's valid until May 2025 subject to two maintenance audits. In 2023, the first of the two scheduled audits was concluded, with the involvement of numerous Group structures