Inovocb Network Ltd. Updated November 1st. 2023
Purpose and scope of this policy
INOVOCB has a commitment to high legal and ethical standards and all Affiliates are required to share this
commitment. The purpose of this policy is to clarify the responsibilities of all Affiliates with respect to
fraud and fraud prevention and the actions that will be taken by Inovocb towards any Affiliate if fraud is
suspected and/or detected vis-à-vis Inovocb and/or Inovocb partners.
Definition of fraud
The legal definition of fraud varies among countries and jurisdictions, but the term is commonly used to
describe a wide variety of dishonest practices and misconducts. Fraud comprises both the use of deception to
obtain an unjust or illegal financial advantage and intentional misrepresentations affecting the financial
statements by one or more individuals. Fraud is commonly perpetrated by parties to obtain money, property,
or services; to avoid payment or loss of services, or to secure personal or business advantage. Acts of
fraud are not dependent upon the application or threat of violence or of physical force.
Acts of fraud may involve, but are not limited to:
• Fraudulent use of credit cards;
• Fictitious bookings, orders or purchases of any kind:
• Making of false statements to obtain a financial or other benefit for oneself or another/others;
• Using another person’s IT identity or password, or creating false identities/passwords, without consent or
authority.
It should be noted that actions taken to instigate, aid, abet, attempt, conspire or cooperate in a
fraudulent act, also constitute fraud.
Investigation of allegations
All allegations of fraud and suspected fraud are taken seriously. Upon receipt of information indicating
fraud or suspected fraud, Inovocb will assess the information and determine if the Affiliate in question
will be suspended pending further investigation, or if the membership shall be terminated immediately.
Should the Affiliate be suspended all e-wallet balances, Commissions, Bonuses and Reward funds will be
subject to suspension and the Affiliate in question may be blocked from accessing the Inovocb website.
Should the membership however be terminated immediately, the Affiliate loses all rights to his or her
position in the Compensation Plan, i.e., all previous, current and future commissions, bonuses and rewards
earnings will be forfeited.
Disciplinary/legal action
Proven fraud or suspected fraud, which comes to Inovocb`s attention, will be referred to the appropriate
authorities at the earliest possible opportunity. This may include, but is not limited to, filing a police
report.
Anti fraud policy
Inovocb reserves the right to take legal action against any Affiliate whom Inovocb suspects of having
committed fraud.
Reporting fraud
Anyone with information regarding fraud or suspected fraud is strongly encouraged to report this information
to Inovocb’s Compliance Department at compliance@inovocb.com.
Anonymous reports Individuals wishing to protect their identity may report fraud anonymously. For anonymous
reports, a report number and code are used to allow the individual making a complaint to follow up and to
check if the assessing officer has requested further information.
These Anti Fraud Policy will be translated into different languages. In case of any discrepancie between
this English version and the translated versions, the English version of the Anti Fraud Policy shall
prevail.