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.
In October 2003, Congress passed a law allowing trafficking victims to recover civil damages from their traffickers in federal courts, 18 U.S.C. § 1595, now known as the Trafficking Victims Protection Reauthorization Act (TVPRA). In the almost twen...Read More
This discussion paper aims to provide practitioners working with business, human rights and/ or sustainable development with an overview of the connections between human rights, responsible business conduct and the 2030 Agenda for Sustainable Devel...Read More
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
The paper presents the findings of a study on external policy measures adopted by the European Union and like-minded partners to address modern slavery in third countries. The study is intended to support the European Parliament in monitoring E...Read More
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