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 data in this report represents signals and cases from January 1, 2018 through December 31, 2018 and is accurate as of July 25, 2019. Cases of trafficking may be ongoing or new information may revealed to the National Hotline over time. Consequen...Read More
The People’s Republic of China (PRC) has instituted an unprecedented system of state-sponsored forced la- bor for Uyghur, Kazakh, Kyrgyz, and other minoritized citizens in the Xinjiang Uyghur Autonomous Region (or XUAR or Uyghur Region, also known...Read More
As in any modern industry, technology has revolutionized the production and distribution of seafood. Today, highly perishable products, once caught solely in the wild, can be farmed, processed, packed, and shipped to destinations worldwide in a matt...Read More
This report presents a summary of findings from two case studies conducted in Burma on the intersection of labor, environmental, and social risk in the cultivation of bananas and informal logging in northern Burma. These case studies were conducted ...Read More
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