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.
However, business leaders need to collaborate in order to do this. My recommendations focus on the need to develop relevant risk management processes and the need to create better systems to share intelligence. I also strongly encourage growing coll...Read More
The National Human Trafficking Hotline knows that hotels and motels are frequently utilized by traffickers to facilitate forced commercial sex or forced work. In many cases, hotel and motel owners may not be aware of how their businesses are being u...Read More
For over a decade, the Netherlands has put its trading interests above its duty to protect against human rights abuse by companies operating under its jurisdiction. This report, based on Amnesty International research conducted between March and ...Read More
For the first time, comprehensive data is available for human trafficking and high risk migration routes relating to Kenya. The data identifies 38 countries as origin, transit and destination locations for abuse of victims - including eight countrie...Read More
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