Modern Slavery Statement

1. Introduction

Modern slavery happens across the world. As well as being a punishable crime, forcing people to work and exploiting their human rights for personal or commercial gain is a moral atrocity which has no place in the world of business.

In line with this view, we operate a zero-tolerance policy to modern slavery in our group of companies, which comprises Currencies Direct Limited, Currencies Direct Financial Markets Limited, Redpin Holdings Limited, Currencies Direct Spain SL, Tor Currency Exchange Limited, Exchange4Free and their respective subsidiary and parent undertakings (the Redpin Group). As well as being transparent in our operations, we also have the right policies and practices in place to ensure our business operates in a way which leaves no room for modern slavery.

This statement is pursuant to section 54 (1) of the Modern Slavery Act 2015, and applies to the Financial Year ending 30 June 2024.

2. Organisation structure

This statement applies to the Redpin Group which operates in the UK, Spain, Portugal, Cyprus, India, South Africa, the USA, New Zealand and Australia. Whilst some of these locations are out of scope for the Modern Slavery Act 2015, we implement the policy on a global level, ensuring a consistent level of protection throughout our group whilst supporting abolition of modern slavery throughout the world.

3. Policies & training

We implement a suite of policies, guidelines and training initiatives in our organisation which help to ensure we uphold our stance on modern slavery. These include our Anti Money Laundering and Client Acceptance policies, alongside specific guidelines set out in our Employee Handbook and Whistleblowing Policy.

4. Due diligence & Risk Management

We undertake a high level of scrutiny when recruiting staff in our offices. All new members of staff undergo eligibility and criminal checks, ensuring that adequate local laws are adhered to with regards to employment and minimum wage requirements.

In addition we have a robust risk-management process in place at the Redpin Group which provides easily available channels for reporting any incidents surrounding modern slavery, with board-level review.

5. Supply chain

We expect our entire supply chain - including all contractors, suppliers and other business partners - to adhere to the same principles we operate in relation to modern slavery. We communicate this statement to every supplier and expect them to adhere to the same principles. We ensure its application as appropriate during the relationship.

6. Action taken

Redpin Group assessed its business operations to ensure adherence to the requirements of the Modern Slavery Act, and will continue to assess adherence to this statement periodically.

7. Responsibility and governance

The directors of the Redpin Holdings Limited approved this statement and are ultimately responsible for ensuring that the Group adheres to the ethical standards set out in our policies. The Group Head of Compliance is responsible for day-to-day implementation within the business, ensuring policies and training are up to date, and dealing with questions or concerns about this policy

8. Non-compliance toward this statement

As detailed in our various policies, non-compliance in relation to modern slavery requirements could constitute misconduct or gross misconduct by the employee, contractor or officer concerned and result in disciplinary action including dismissal.