| Modern slavery is a global phenomenon, with 40.3 million victims and $354 billion at-risk products imported by G20 countries in one year alone, according to estimates by the Walk Free Foundation (2018). Australia has historically been complicit in this problem – both as an importer of suspect products and components, and as a host of modern slavery practices. According to the Australian Border Force, 1567 victims of modern slavery were reported in Australia from 2015 to 2017. In 2018, amid increasing public concern about the prevalence of modern slavery, the Australian Parliament passed a new law – the Modern Slavery Act – requiring large Australian companies to identify and report on risks of modern slavery practices in their operations and supply chains. This report by researchers at the Monash Centre for Financial Studies (MCFS) evaluates the disclosure quality of modern slavery statements submitted by the largest companies listed on the Australian Securities Exchange (ASX300) for FY2020 under the requirements of the Act. The report expands upon a related research project conducted in 2021 by MCFS, which was confined to ASX100 companies. |
The Fintel Alliance has developed this financial crime guide to help financial services businesses understand and identify the signs of forced sexual servitude in Australia. The indicators and behaviours in this financial crime guide can be used by ...Read More
In March 2020 Delta 8.7 published an article which argued that the pandemic would impact on modern slavery in at least three ways: by heightening risks for those already exploited, increasing he risks of exploitation and disrupting response efforts....Read More
This paper reviews banks’ responsibilities and provides suggestions and recommendations for how banks can develop and implement effective operational-level grievance mechanisms that will be legitimate, trusted and meet their responsibilities under ...Read More
Case records on identified victims of human trafficking are highly sensitive, yet the ability to share such data is critical to evidence-based practice and policy development across government, business, and civil society. We propose new methods to...Read More
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