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.
A report by Human Rights Watch on labor exploitation and trafficking of children in tobacco farms in Kentucky, Virginia, Tennessee, North Carolina. Children on tobacco farms face severe health and safety risks, including accute nicotine poisoning, c...Read More
In 2022 Porticus launched a pilot learning year to support the development of a new global programme, Transforming migration parameters through movement building and lived-experience leadership’ (hereafter MOVE) within the People on the Move Portf...Read More
This report, the EU Fundamental Rights Agency’s fourth on the topic of severe labour exploitation, is based on interviews with 237 exploited workers – both people who came to the EU, and EU nationals who moved to another EU country. They were ac...Read More
Businesses with potential exposure in their supply chain to the Xinjiang Uyghur Autonomous Region (Xinjiang) or to facilities outside Xinjiang that use labor or goods from Xinjiang should be aware of the reputational, economic, and legal risks of in...Read More
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