Anti-Bribery & Corruption

  1. Introduction

SmartCrypto is committed to conducting its Business with honesty and integrity and in compliance with the laws of all the countries in which the Company is active. This Policy has been developed in order to facilitate the observance of all relevant anti‐bribery and anti‐corruption laws and regulations including, but not limited to, the South African Prevention and Combating of Corrupt Activities Act 2004 (as amended) and the United Nations Global Compact Business Principles and OECD recommendations regarding corruption.

The objective of this Policy is to

  • reinforce SmartCrypto‘s commitment to anti‐corruption compliance;
  • set out SmartCrypto‘s standards of conduct for the prevention of corruption;
  • provide the foundation for the development of procedures to manage SmartCrypto‘s corruption risk.
  1. Definition

The terms defined herein should be construed broadly to give effect to the letter and spirit of the Code.

Associates include, but are not limited to, family members, any company or trust Covered Persons or their family have an interest in or are a beneficiary of.

Bribery is the giving or receiving of money, a gift, a benefit or any other advantage – financial or otherwise as an inducement to do something that is dishonest, illegal, a breach of trust in the course of doing business or to gain an unfair or improper advantage.

Business includes all normal business transactions including, but not limited to, financial assistance, the acquisition, and disposal or leasing of assets and provision/receipt of services.

Covered Person(s) shall mean all directors, employees and officers of the Company.

Government or Public Officials shall mean individuals who hold a legislative, administrative or judicial position of any kind, whether appointed or elected and/or exercises a public function for or on behalf of a country or territory.

SmartCrypto” or “the Company shall mean SmartCrypto Proprietary Limited.

“Officers of the Company” shall mean any director or company secretaries of the Company.

Third Party/Parties shall mean suppliers, service providers and other business partners.

  1. Who Must Comply

This Policy is applicable to all Covered Persons and sets out the minimum standards of conduct applicable and should be read and applied in conjunction with the prevailing SmartCrypto policies, codes and guidelines on related matters, including the Code of Ethics and Business Conduct policy.

  1. Policy Responsible

The custodian of the Policy is the Compliance Officer who shall be responsible for the administration, revision and interpretation of the Policy. SmartCrypto is committed to ensuring that its exposure to corrupt activity is subject to periodic risk assessments and Covered Persons are provided with training on this Policy.

  1. What You Cannot Do

SmartCrypto takes a zero-tolerance approach to bribery and corruption and is committed to carrying out Business fairly, honestly and openly, and without improper influence. SmartCrypto does not, either directly or indirectly, through intermediaries or other third parties, solicit, receive, offer, promise or provide any financial or other advantage of material value or otherwise exercise improper influence in its dealings with other businesses, or with Government or Public Officials with the intention of obtaining any improper advantage in the conduct of its Business. All Covered Persons are required to comply with this Policy and are responsible for ensuring that SmartCrypto Business is undertaken with the utmost integrity with regard to the following matters:

5.1 Fraud and Extortion

Fraud and extortion are criminal offences. SmartCrypto prohibits the direct or indirect demand for, or acceptance of, any advantage, through deception or otherwise, which is used for Covered Person or SmartCrypto‘s benefit.

5.2 Bribery

SmartCrypto prohibits all forms of bribery whether or not the advantage, benefit or improper performance may have been offered or received indirectly, for example, via a customer, agent, intermediary or supplier.

5.3 Facilitation Payments

SmartCrypto prohibits facilitation payments. A facilitation payment is payment of a bribe to a government or other official to secure or expedite the performance of an action. In circumstances where the payment of a bribe or similar is demanded under duress, whether paid or not, this must immediately be reported to the SmartCrypto Compliance Officer.

  1. Gifts and Hospitality

SmartCrypto recognises that fostering good relationships with business partners is important to its continued success. The provision and receipt of modest gifts and entertainment, and the incurring of modest expenses, are acceptable in principle provided that they are reasonable and made transparently.

However, the provision or receipt of any gift or entertainment, or the incurring of any expenses, is not permitted where it is offered or received in exchange for a business or other improper benefit, creates any sense of “obligation”, influences business judgment or creates a conflict between Covered Persons personal interests and those of SmartCrypto or is otherwise illegal. Any activity that could be perceived as having any of the above effects is also prohibited. SmartCrypto‘s business decisions and those of Third Parties must be made objectively and without influence by gifts or favours. Covered Persons may only offer or accept corporate or personal gifts and hospitality of a modest value. All gifts and hospitality above R2000 must be recorded in the gifts and hospitality register, which is available on OneDrive/Compliance/Gifts.

  1. Third Parties

SmartCrypto is aware that its reputation may be damaged by the conduct of Third Parties acting on its behalf. In certain circumstances, their actions can have legal implications for SmartCrypto. As such, it is not acceptable for a Third Party acting on SmartCrypto‘s behalf to act in a way that would breach this Policy were the act in question undertaken by SmartCrypto directly. SmartCrypto is therefore committed to (a) taking reasonable steps to ensure that Third Parties are made aware of, understand and adhere to this Policy (b) verifying the integrity and reputation of Third Parties through appropriate and reasonable due diligence in light of perceived levels of risk and (c) where necessary, putting in place appropriate controls to monitor the use of SmartCrypto‘s assets by Third Parties acting on SmartCrypto‘s behalf.

  1. Sponsorships, Political and Charitable Contributions

SmartCrypto makes charitable contributions and offers sponsorships for the purposes of socio‐economic development or cultural or sporting activities. Charitable donations and sponsorships must not be perceived as being given for improper purposes. When a charitable contribution or sponsorship is proposed, it must be transparent, documented, made in accordance with applicable law and assessed for compliance with this Policy and any related procedures. SmartCrypto does not participate directly or indirectly in party politics and does not make payments to political parties, politicians or related organisations.

  1. Engagement with Government or Public Officials

In the normal course of business, meetings may be scheduled with Government or Public Officials for the purpose of discussing legitimate SmartCrypto Business. These meetings must be held in an open and transparent manner in order to minimise the perception of any corrupt activity taking place.

  1. Financial Books, Records and Internal Controls

SmartCrypto must maintain detailed and accurate books and records and a system of internal controls that ensures accountability for all shareholder assets. “Off‐the‐books” payments and fraudulent accounting practices, for example, knowingly falsifying accounting books and records to cover up or disguise any improper payments, are prohibited. Covered Persons have a responsibility to protect SmartCrypto‘s assets from theft, loss, abuse, unauthorised use or disposal. They must use Company assets only for purposes related to conducting their SmartCrypto responsibilities and may use Company assets for other (including personal) uses only when properly authorised.

  1. Conflicts of Interest

Covered Persons must avoid conflict of interest and are expected to perform their duties conscientiously, honestly and in accordance with the best interests of SmartCrypto. Covered Persons must not abuse their position, misuse confidential knowledge for personal or Third-Party gain, or have any direct involvement in any business interest which diverts their attention from, or is in conflict with, SmartCrypto‘s commercial interests, or which in anyway compromises their independence and impartiality.

  1. Speaking Up – Reporting Bribery

A confidential and secure means for Covered Persons and Third Parties to report conduct that may be contrary to SmartCrypto‘s values and principles, including conduct that may breach this Policy (or associated procedures), is to report it to Officers of the Company.

  1. What happens if you do not comply

It is the responsibility of all Covered Persons to report any breaches, or potential breaches, of this Policy to their line manager or Compliance Officer. Violations of this Policy, including involvement in any corrupt activities and failure to report actual or potential breaches of this Policy (or associated procedures), will lead to disciplinary action in accordance with applicable disciplinary procedures. In some circumstances, failure to report actual or suspected violations of this Policy may itself constitute a legal offence. SmartCrypto is committed to reporting all instances of corruption and other forms of dishonesty to the relevant authorities and to facilitating criminal action against the individuals concerned where appropriate.

  1. Queries

Questions can be directed to line management or the Compliance Officer, via email at: