Precise Biometrics’ operations shall be sustainable in the long term, which involves profitable transactions, cost-control, risk management, and a responsible performance in everything we do. The Company has introduced a Code of Conduct to ensure responsible performance in all contexts, while at the same time creating value for its shareholders, customers, employees, suppliers and other stakeholders.

Code of Conduct

The Code of Conduct highlights the fundamental principles that Precise Biometrics observes when conducting its business operations, and supports the Company’s employees in their relations with business partners and other interested parties. Precise Biometrics’ Code of Conduct is based on:
 

• The UN general declaration on human rights.
• The UN initiative Global Compact, the objective of which is to promote social and environmental awareness in internationally active companies.
• The ILO declaration on fundamental principles and rights in the workplace.

All employees are expected to support and uphold the Company’s values and responsibilities. Precise Biometrics also encourages its suppliers and other business partners to follow these principles. The Code of Conduct includes a policy structure that helps employees to act and take decisions in accordance with the code.

Ethics - Secure identity and preservation of integrity

The objective of Precise Biometrics’ solutions is to enhance security during personal identification, while also preserving or reinforcing personal integrity. Individuals, companies and public authorities all over the world use Precise Biometrics’ systems every day to secure their identities and protect their integrity. The right to feel safe and secure is one of the most important fundamental principles in a democratic society. It is important to emphasize that this also includes their right to be able to identify themselves and protect their integrity and property. This is a corner stone in a well-functioning society.

Advantages of Precise Biometrics’ technology from the perspective of integrity:

• In many countries it is difficult for individuals to identity themselves in their dealings with banks and public authorities. By matching fingerprints with information stored on a smart card it is possible to identify individuals in a secure way, without having to connect to a central database. This would, for example, enable contacts with banks and healthcare in developing countries to be simplified.
• Protects ownership rights.
• Reduces the risk of identity theft.
• Reduces the need for storage of identity details in databases, which in turn reduces the risk that sensitive personal information can be stolen or misused.
• Reduces the risk of unauthorized persons gaining access to protected areas, e.g. airports, power stations, offices etc.
• Reduces the risk of unauthorized access to computer systems.

Risks with Precise Biometrics’ technology from the perspective of integrity:

• There is a potential risk of misuse with all technical equipment from the point of view of the users. Products that enhance security can be misused to limit the movement of individuals for the wrong reasons.
• Handling errors can potentially create problems for individuals who are affected, and it is therefore of great importance that Precise Biometrics’ solutions are implemented and used correctly.

Precise Biometrics’ responsibility:

The Company’s sales are mainly directed to global and well-established partners, and seldom directly to end customers and end users. The Company has confidence in the processes and policies of its partners in terms of analysing the countries and organizations that use the products and the risks/infringement that this usage could pose for Precise Biometrics’ Code of Conduct or national legislation. Precise Biometrics also conducts its own risk analyses during its establishment in new markets or when entering new partnership agreements in those cases and to the extent the Company considers this to be necessary. The Company’s subcontractors must follow the agreed guidelines drawn up in supplier contracts. A separate policy for suppliers will be introduced in 2010. The Company is non-political and does not support special interests. Precise Biometrics maintains a high level of business ethics and all our employees are encouraged to report any deviations from the Code of Conduct to their immediate manager. 

Environment

Precise Biometrics’ core products consist of intangible assets such as software and algorithms, which are sold in the form of user licenses. In this context the Company also supplies development tools and other user interfaces for fingerprint recognition. Use of the Company’s products has no, or negligible impact on the environment. The products can also be used to reduce the use of paper, since signatures can be made digitally by means of fingerprints instead of a physical signature on a printed document.

Precise Biometrics does not manufacture physical products and purchases electronic components from different suppliers for assembly by subcontractors. Precise Biometrics only chooses well-known and established suppliers that have signed delivery contracts.

Recyclable and non-toxic materials and components should be used as far as this is possible. Subcontractors are responsible to ensure that they follow the handling instructions included with products when they are discarded. Precise Biometrics complies with the EU’s RoHS directive on the restriction of hazardous substances in electronic products and the WEEE directive on collection and recycling.

Precise Biometrics also aims to minimize the number of travels made and to select the most environment-friendly means of transportation possible. Recycling and the efficient use of resources are key factors in purchasing for the Company’s offices.

Staff

Precise Biometrics shall be a safe and stimulating workplace. All forms of discrimination are unacceptable, which is regulated in Company’s HR policy. All employees are entitled to annual developmental conversations with their immediate manager and a personal development plan. Employees have free rights of association. Issues concerning the working environment, health and safety are handled within the framework of Swedish legislation.

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