Chapter 4: Our business integrity
We prevent money laundering and terrorism financing
The Nestlé way
Wherever we do business, Nestlé complies with applicable laws on the prevention of money laundering and terrorism financing and aims only to do business with trustworthy, reputable partners. Nestlé will not have any association with these crimes.
How we live it, every day
- Before entering any business relationship, take steps to know with whom we are dealing. Follow the procedures on screening and due diligence that relate to your role and the relevant third party.
- Ensure that payments are made only to clearly identified individuals or companies. Do not use unapproved intermediaries or third-party accounts for transactions.
- Be familiar with the red flags for money laundering and terrorism financing and report any concerns immediately.
Putting our Code to the test
Q. A supplier has suddenly asked to be paid into a different account than usual and one located in a different country. Is this a risk?
A. Be wary if you receive bank details from a supplier with a request to be paid in a different country and account than usual, particularly if the jurisdiction is considered to be a tax haven. This may suggest a risk of fraud or money laundering. If you have any doubts, do not proceed with the payment and seek guidance from your people manager or Procurement contact.
See something? Say something
If it looks unethical, it probably is. All of these are red flags for money laundering and terrorism financing.
- Requests to deal in cash
- Unusual high-volume transactions
- Requests for unusual fund transfers to or from foreign countries
- Counterparties with opaque or overly complex ownership structures
- Sudden or unreasonable changes to payment instructions
- Requests to receive from or pay to bank accounts in another country
- Requests to use an exchange house
