Commitment to Fraud
EthosEnergy is a global leader in rotating equipment services and solutions and trusted by customers across the energy sector. With operations around the world, we take pride in our unwavering commitment to integrity, transparency and ethical conduct. Our reputation is built on the values we uphold as a company, the dedication of our people and our collective commitment to doing what's right. We firmly reject fraud in all its forms and will not tolerate any actions that compromise honesty or accountability. At EthosEnergy our promise is clear, we operate with integrity at every level, every day.
Fraud can take many forms, be it where the company is the victim or where fraud is conducted for the benefit of EthosEnergy. At its core fraud involves deception with a view to making a gain or causing a loss. Specific instances of fraud might include making false statements or representations, dishonestly failing to disclose information, dishonestly abusing a position, fraudulent trading or dishonestly obtaining services. Fraud also includes any form of assistance that is offered in relation to these fraudulent activities, or procurement of them.
Fraud is a serious issue that not only affects businesses but also undermines trust in economic systems, causes financial losses for individuals and institutions, and leads to increased costs and regulatory burdens, affecting overall societal stability and prosperity.
Our mission is to prevent fraud by fostering a culture of honesty and accountability. We recognize the long-term benefits of rejecting fraudulent practices, including enhanced reputation, increased customer confidence and sustainable business growth, even though this may result in short-term losses, missed opportunities or delays in getting things done. We are committed to implementing robust fraud prevention policies and procedures which are overseen by our Ethics & Compliance team.
We have established clear consequences for breaches of our Business Ethics Policy, including disciplinary actions for our employees and termination of relationships with our business partners.
Our Business Ethics Policy outlines the standards expected of employees and those that we work with. It provides guidance on how to act ethically and responsibly. We encourage everyone to embrace these values and use them in all aspects of their work. If you suspect or encounter fraudulent activity, report it immediately either directly to your Responsible Officer, HR or Leadership, Ethics & Compliance or through the Whistleblowing Helpline. We are committed to eradicating fraud, and we will stand by you in acting ethically.
Together, we can eradicate fraud by maintaining the TRUST approach:
- Transparency. Transparency is key: We should keep our actions clear and our records open.
- Responsibility. Take responsibility for ethical conduct; it is everyone's duty.
- Understanding. Complete all assigned training sessions to keep your knowledge current.
- Scrutiny. Apply scrutiny to all transactions to detect potential fraud.
- Thrive ethically. Contribute to a culture of success by adhering to ethical standards in your work.
By embracing the TRUST approach, we build a foundation of integrity and work together to prevent fraud.