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"Lloyds Banking Group subscribes to the Financial Supplier Qualification System (FSQS), a third-party managed supplier qualification system for the financial sector that is currently used by

18 major banks, building societies and insurance companies. This ensures we adopt a standardised approach to compliance and assurance, which forms an integral part of our supply chain management."

"As part of the FSQS, these suppliers are asked to provide evidence of processes and procedures for assessing and complying with relevant human rights legislation and labour standards, including the UK Modern Slavery Act. It is a mandatory requirement for these suppliers

to complete the FSQS questions on an annual basis, and employees who manage the supplier relationship (Supplier Managers) must confirm that this is satisfactorily completed throughout the duration of the supplier’s contract."

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"Lloyds Banking Group takes a proactive role in identifying potential perpetrators, and our Financial Intelligence Unit has built specific typologies that target financial indicators."