By Brian Huerbsch
Illegal logging poses real and significant regulatory risk for international financial institutions and corporations, especially those connected, either directly or indirectly, with the global timber industry, or that operate in areas where the industry is prevalent and important to the local economy. Considering the notable increase in regulatory activity over the past decade, the amount of enforcement actions given, and the ballooning size of fines over the past several years, it is clear that illegal logging is a crime that cannot be ignored anymore. Fortunately, this risk can be mitigated properly if strong third-party risk and know your customer (KYC) processes are in place, including enhanced due diligence (EDD) and anti-money laundering (AML) protocols.
The IGWG’s fifth session, which took place from 14 to 18 October 2019, opened with a statement from the United Nations Deputy High Commissioner for Human Rights. She congratulated the Chair-Rapporteur on the release of the revised draft legally bi...Read More
This short paper is intended as a general overview of the development of different legislations and frameworks that apply in the area of finance and human rights, underlining key aspects. It comprises EU regulation (in force and upcoming), national ...Read More
The discovery of the camps and graves at Wang Kelian, Perlis, garnered the attention of many and stunned the nation. These camps and graves on the border of Malaysia and Thailand gave rise to an outcry that resulted in the competency of the enforcem...Read More
COVID-19 has put under the spotlight the fast fashion industry in Leicester East, and its exploitation of thousands of (mostly immigrant) workers. Exploitation that ranges from unsafe working conditions through to slavery; from staff being paid belo...Read More
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