Modern Slavery Act Statement for Verifid Limited

1. Our Commitment to the Modern Slavery Act 2015

Verifid Limited ("we," "our," or "us") is committed to upholding the principles of the Modern Slavery Act 2015 and to the abolition of modern slavery, human trafficking, forced labor, and all forms of exploitation. We recognize that businesses have a crucial role in preventing modern slavery through ethical business practices, policies, and proactive efforts across all areas of operations.

While Verifid Limited does not have a legal obligation to publish a statement under the Modern Slavery Act, we choose to do so voluntarily to demonstrate our commitment to these principles and to outline the steps we have taken and will continue to take to identify, mitigate, and address any potential risks of slavery, human trafficking, servitude, forced or compulsory labor, and child labor within our business and supply chains.

2. Due Diligence: Our Approach to Combating Modern Slavery

2.1 As an Employer

Verifid Limited operates globally, with activities across Europe, North America, and other regions. We are committed to fostering an inclusive, respectful, and fair working environment for all employees. Our recruitment and management processes are designed to ensure that all prospective and current employees are legally entitled to work in the country of their employment and are safeguarded against any form of exploitation or coercion.

To fulfill this commitment:

• Fair Treatment: All employees are treated fairly and honestly, irrespective of their location. Every staff member is provided with agreed terms and conditions of employment in accordance with local laws or practices, and access to job-specific skills training.
• Fair Compensation: We provide wages that reflect local market conditions and ensure that we meet or exceed any national minimum wage standards. Our aim is to pay all employees a living wage that exceeds the local cost of living.
• Reasonable Working Hours: We comply with industry guidelines and national standards to ensure that working hours are not excessive and are aligned with legal and ethical norms.
• Prohibition of Forced Labor and Child Labor: Verifid does not condone the use of illegal child labor, forced or bonded labor, or involuntary overtime. We strictly prohibit any form of modern slavery in our business practices.
• Non-Discrimination: We comply with non-discrimination laws in every country where we operate, ensuring that all employees are treated with respect and without discrimination based on race, gender, age, religion, sexual orientation, disability, or any other characteristic.
• Safe Working Environment: We maintain a zero-tolerance policy toward corporal punishment, mental or physical coercion, or verbal abuse. We have established disciplinary procedures to address any conduct that falls below our required standards.
• Grievance Procedures: We provide formal grievance procedures that allow employees to raise personal and work-related issues without fear of retaliation. These procedures ensure that all grievances are addressed in a fair and transparent manner.

2.2 As a Business

Verifid Limited relies on a diverse network of suppliers and vendors to support our operations. We do not engage in business with any organization, whether in the UK or internationally, that knowingly supports, engages in, or is found to be involved in slavery, human trafficking, servitude, or forced or compulsory labor. We are committed to protecting whistleblowers who report such concerns.

To achieve this:

• Supplier Code of Conduct: Our Supplier Code of Conduct outlines our expectations for all suppliers and vendors, including compliance with the Modern Slavery Act 2015. We require suppliers to confirm that they have fulfilled any statutory requirements to produce a Modern Slavery Statement where applicable.
• Supplier Due Diligence: Our Supplier Policy mandates rigorous due diligence on all new and existing suppliers. This includes assessing their compliance with anti-slavery and human trafficking laws and ensuring they adhere to Verifid's ethical standards.
• Minimum Supplier Expectations: Verifid’s minimum expectations of its suppliers and vendors include:
  • No use of forced, bonded, or involuntary prison labor or child labor.
  • Respect for workers' rights to join or form trade unions and for free association and collective bargaining.
  • Maintenance of clean, safe, and hygienic working conditions.
  • Compliance with national laws and industry standards on working hours.
  • Prohibition of physical abuse, threats, harassment, and other forms of intimidation.

3. Exposing Wrongdoing

We encourage all staff to feel confident in exposing wrongdoing without fear of reprisal. We are committed to maintaining an open culture where employees and external stakeholders can report concerns about unethical practices.

To support this commitment:

• Risk Management Framework: Our Risk Management Policy identifies and addresses risks related to modern slavery and human trafficking. We have appointed Risk Champions across different business areas who are responsible for identifying and assessing risks and reporting them to our Central Management Team.
• Whistleblowing Procedures: Our Whistleblowing Policy outlines procedures for staff and other interested parties to report concerns about any form of misconduct, including modern slavery. This policy ensures that concerns can be raised confidentially, and that whistleblowers are protected from retaliation or victimization.

4. Related Policies Supporting Our Commitment

We have several policies that relate to our commitment under the Modern Slavery Act 2015:

• Code of Ethics: Outlines the ethical standards expected of all employees and suppliers.
• Risk Management Policy: Details our approach to identifying and mitigating risks, including risks related to modern slavery.
• Whistleblowing Policy: Provides a confidential and secure channel for reporting any concerns, including those related to modern slavery.
• Supplier Code of Conduct:Supplier Code of Conduct: Sets out our minimum expectations for suppliers and vendors concerning labor practices and human rights.

These policies are available to all employees through our internal document management system and are regularly reviewed to ensure they remain effective and up-to-date.

5. Looking Ahead: Our Future Commitments

Verifid Limited is committed to continually improving our practices to combat modern slavery and human trafficking. As part of this commitment:

• Partnerships with Anti-Slavery Organizations: We engage with organizations such as The Anti-Slavery Collective and others to explore how our technology can support the wider social sector in combating human trafficking.
• Continuous Improvement: We regularly review and update our governance processes to ensure compliance with legal requirements and industry best practices. We aim to maximize the positive societal contributions of our business and those of our suppliers and vendors.
• Employee Training: We will provide ongoing training to our employees to raise awareness of modern slavery and human trafficking risks and to reinforce our commitment to ethical business practices.

6. Governance and Review

Our Board of Directors has overall responsibility for ensuring this policy complies with our legal and ethical obligations and that all those under our control comply with it. The policy will be reviewed annually, and we will report on our progress and any new initiatives to combat modern slavery in our annual reports.