Responsible banking

The growing integration of CR actions and management of environmental, social and corporate governance (ESG) risks and opportunities is a reality at BBVA. Given the cross-cutting nature of the concept, the information referring to this item is split across the whole report, both in the section on risk management (specifically ESG risk management for financing investment projects and credit profiles) and WB&AM (which deals with the integration of ESG variables in the management of portfolios using socially responsible investment). The same is true with the presence of BBVA in offshore financial centers and the prevention of money laundering and the financing of terrorist activities.

From the perspective of fraud prevention in 2010, the preparation and publication of BBVA’s Anti-Fraud Program, on the basis of its Code of Conduct, has improved the management of fraud risk. This program is part of the framework of action in which the Group’s integrated fraud risk management has to be carried out. The principles of “Zero Tolerance to Fraud” and “Tone at the Top”, included in the document, reflect the spirit maintained by the Group in this area. Finally, it is important to mention that BBVA continues to apply the latest fraud prevention technologies in its products.

They make it more difficult to commit fraud and increase customer confidence in the financial services offered by the Bank