​Anti-Fraud Policy

1. Purpose

         This policy is established to be a framework for formulating measures related to fraud prevention, detection, and management, as well as continuously improving fraud prevention measures. It also includes fraud investigation measures and reporting protocols in accordance with regulators’ regulations and the Company’s Good Corporate Governance Policy.

2. Scope

         This policy encompasses the prevention of fraud related to the Company’s personnel, insurance intermediaries, insureds, beneficiaries, business partners, outsourced service providers, and their authorized persons. The Company establishes continuous entity-wide measures for managing fraud-related risks to appropriately develop and establish preventive measures. The Company’s personnel must study this policy and adhere to it strictly.

3. Effective Date

         This policy shall be effective from the date of approval by the Board of Directors.

4. Review Frequency and Revision

         This policy must be reviewed annually, or when a significant change arises.

5. Responsible Function

         The Compliance Office is the responsible function of this policy.

6. Definition

          “The Company“ means Bangkok Life Assurance Public Company Limited.

          “Subsidiary“ means companies in which the Company holds shares directly or indirectly over 50% of voting shares.

          “Personnel of the Company“ means directors, executives, employees, and staff at all levels of Bangkok Life Assurance Public Company Limited and its subsidiaries.

          “Fraud“ means an intentional act or omission, deception, or misrepresentation by external and/or internal persons to seek unlawful benefits for themselves or other related parties.

         The Company classifies fraud into the following three groups according to the type of person involved.

• Internal fraud encompasses asset misappropriation or malpractice by Company’s personnel, whether acting alone or in collusion with other internal or external individuals. Example behaviors include misappropriation, document forgery, concealment or falsification of important information on financial statements, and reporting incorrect income.
• Intermediary fraud involves agents, brokers, business partners, and outsourced service providers. Examples include premium misappropriation, document forgery, and mis-selling.
• External fraud includes fraud committed against the Company by business partners, customers, or policyholders. Examples include insurance application fraud, claim fraud, withholding of sensitive information, colluding with medical personnel in fraudulent activities, bid rigging, issuing duplicate or falsified invoices.

7. General Principle

          The Company is committed to conducting business with honesty, fairness, transparency, and prioritizes the prevention of potential fraud risks that may arise from its operations. Therefore, the Board of Directors has established this Anti-Corruption Policy to raise awareness and lay the foundation for systematic fraud risk management in accordance with the principles of good corporate governance, in order to develop the organization towards sustainability.

8. Requirement

8.1 Zero Tolerance

         The Company applies “Zero Tolerance” practices and does not accept any dishonest actions which affect the Company and its stakeholders, committed by any persons to seek unlawful benefits for themselves or others.

         The Company’s personnel must strictly adhere to this policy and must not, under any circumstances, engage in fraud. External persons who have business relationships with the Company are also encouraged to adhere to this policy.

8.2 Risk Management and Fraud Handling

         The Company conducts entity-wide fraud risk management and establishes measures for promptly managing and addressing actual or potential fraud within a suitable timeframe. Those measures must be sufficient to ensure that all relevant matters are thoroughly examined to identify the root cause, leading to the development and improvement of processes or measures to effectively prevent future fraud. Moreover, the Company must earnestly carry out disciplinary or legal action against offenders.

8.3 Fraud Reporting

         The Company’s personnel must understand the nature of fraud related to their duties and responsibilities, and must diligently observe and investigate any suspicious signs. If any potentially fraudulent activity is discovered, it must be reported promptly to their supervisor or through the Company's designated whistleblower channels. Furthermore, they must cooperate with the investigation. In addition, the Company’s personnel have a duty to communicate, monitor, and prevent fraud, both internal and external, and must not ignore or disregard any form of fraud, in order to support a transparent and honest corporate culture.

8.4 Governance

         The Company has established a framework for preventing and managing fraud that encompasses key processes including risk assessment, defining internal controls and preventive measures, managing fraud incidents, and reporting fraud risk assessment results to the Board of Directors or a designated committee. This information is used for decision-making and continuously improving risk management strategies.

9. Penalty

         Personnel of the Company, agents, financial advisors, and partners who violate this policy are considered having violated the Company’s code of conduct, and may constitute an offense against the Company's rules, as well as other applicable laws, regulations, rules, or requirements, as well as the termination of their business relationship with the Company.

         External parties who violate this policy may constitute an offense against applicable laws, regulations, rules, or requirements, as well as the termination of their business relationship with the Company.