Instant Cash Loans Limited statement on the Modern Slavery Act 2015
This statement is made pursuant to Section 5, Part 6 of the Modern Slavery Act 2015 (the Act) and sets out the steps taken to ensure that slavery and human trafficking is not taking place in its supply chains or any parts of its business.
Instant Cash Loans Limited, (trading as The Money Shop, TGS Pawnbrokers, Robert Biggar, Duncanson & Edwards, PayDay UK, and PayDay Express) is a provider of simple financial services across the U.K. We are U.K. based, with our principal office in Nottingham and a network of 235 retail stores. We are regulated by the Financial Conduct Authority.
We recognise that modern slavery exists in many forms across many industry sectors and we are committed to acting ethically and with integrity in all our business relationships and are opposed to slavery and human trafficking in our direct operations and in the indirect operations of our supply chain. As such, we will not knowingly support or do business with any organisation or individual involved in slavery or human trafficking.
As a financial services provider, we have relatively straightforward supply chains compared with those of other sectors, with the majority of procurement being sourced from suppliers based in the UK. However, we consider that in certain geographical locations within the UK, the cheque cashing and pawnbroking services offered to our customers may increase our exposure to transacting with those involved in slavery and/or human trafficking.
In addition to our policy on Anti-Slavery and Human trafficking, we have in place policies on Procurement, Anti-Bribery and Ethics which are relevant for mitigating the risk of slavery or human trafficking occurring in the business or within our supply chain. We also operate a Whistleblowing Policy which encourages our staff to report any concerns or issues of wrongdoing.
We engage with our suppliers to seek assurance about their anti-slavery and human trafficking policies and whether they are taking steps to prevent slavery and human trafficking in their respective business and supply chains. New suppliers are subject to an appropriate level of risk assessment and screening, dependant on the nature of goods or services being procured.
All of our colleagues and workers are carefully checked and vetted before they start work and receive regular on going compliance training to ensure that they understand and comply with our values and policies, which includes awareness of Modern Slavery.
In relation to our exposure to modern slavery and human trafficking within our store network, we have policies and procedures to ensure that the appropriate reports are made internally and to the relevant authorities when customer service agents consider that there is a risk of modern slavery or human trafficking taking place. Over the course of the past year, we have worked closely with the Police and Gangmasters & Labour Abuse Authority to assist in the protection of vulnerable and exploited workers who have sought to use our services.
We understand that Modern Slavery risk is not static, and will continue our approach to mitigating this risk in the year ahead.
In order to assess the effectiveness of the measures taken in this financial year we will be reviewing staff training levels and investigations undertaken into reports of Modern Slavery and remedial action taken in response.
Instant Cash Loans Limited
Date: 25 January 2018
To view our 2017 Modern Slavery Statement please click here