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.
Russia’s war on Ukraine has rendered an unprecedented scale of forced displacement, primarily of women and children. Since 24th February 2022, it is estimated that seven million have fled Ukraine to neighbouring countries. As of 1 st November 2022...Read More
Since 2018, with the first change of the federal government after 60 years of independence, Malaysia has seen notable policy shifts in labour policy. These include amendments of employment and social protection regulations, as well as the stren...Read More
This report found that while technology companies are working to bring the world closer together, they are failing to connect with workers in their own supply chains. Our ICT benchmark ranked the top 40 global ICT companies—with a combined market c...Read More
Between 1998 and 2008, several hundred North Koreans worked for roughly ten Czech companies. They were mostly young women employed in the shoemaking, textile, and food industries. Initially, their presence attracted little attention from the media o...Read More
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