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Siemens Bank GmbH Modern Slavery Act Statement Financial Year Ended 30th September 2023Introduction This statement is made pursuant to s.54 of the Modern Slavery Act 2015 and sets out the steps that
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01
Identify the key areas in your organization where modern slavery may be present.
02
Conduct a thorough risk assessment to determine the likelihood and impact of modern slavery within your supply chain.
03
Implement policies and procedures that specifically address modern slavery and outline steps for reporting and addressing any instances that are discovered.
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Train employees on how to identify and report signs of modern slavery.
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Regularly monitor and audit your supply chain to ensure compliance with modern slavery regulations.

Who needs limited - modern slavery?

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Any organization that is concerned about ethical sourcing and wants to ensure that their supply chain is free from modern slavery.
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Companies that are required by law to comply with modern slavery reporting requirements.
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Organizations that want to protect their reputation and brand from being associated with modern slavery practices.
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Limited - modern slavery refers to a specific legal framework or reporting requirement aimed at addressing and disclosing instances of modern slavery within a company's operations or supply chain.
Entities or companies that meet certain thresholds regarding turnover or operations, often stipulated by local regulations, are required to file limited - modern slavery statements.
To fill out a limited - modern slavery statement, organizations must provide details about their policies, due diligence processes, and any actions taken to combat modern slavery in their operations and supply chains.
The purpose of limited - modern slavery is to promote transparency and accountability, ensuring that companies actively work to prevent and address modern slavery in their operations.
Companies must report information regarding their policies on modern slavery, risk assessment processes, due diligence measures, training programs, and specific actions taken to mitigate risks.
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