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, 2017 through December 31, 2017 and is accurate as of July 11, 2018. Cases of trafficking may be ongoing or new information may be revealed to the National Hotline over time. Conseq...Read More
From the late 1970’s, China's economy has enjoyed 30 years of explosive growth. With its 1.4 billion inhabitants, it is now the world's largest economy. This economic miracle, now on everyone's lips, has lifted hundreds of millions of Chinese out ...Read More
The OECD Global Forum on Responsible Business Conduct held on 29-30 June 2017 gathered participants from governments, businesses, trade unions and civil society to discuss responsible supply chains through due diligence; driving responsible institutional investment; the role of National Contact...
The 2018 UNODC Global Report on Trafficking in Persons is the fourth of its kind mandated by the General Assembly through the 2010 United Nations Global Plan of Action to Combat Trafficking in Persons. The report, produced by UNODC every two years, s...Read More
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