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 global spread of COVID-19 has prompted unprecedented measures to contain the virus, including the temporary shutdown of business and widespread restrictions on movement. Around the world, travel plans and workplaces have been disrupted and work ...Read More
This risk management toolkit has been developed in the context of the EU-funded FLOW-project.1 Its purpose is to give companies a brief overview of what labour exploitation and trafficking are, as well as to demonstrate the risks for businesses, and...Read More
The present report of the Special Rapporteur on contemporary forms of slavery, including its causes and consequences, Tomoya Obokata, is submitted pursuant to Human Rights Council resolution 42/10. The report is focused on contemporary forms of ...Read More
The data in this report represents signals and cases from January 1, 2019 through December 31, 2019 and is accurate as of July 30, 2020. Cases of trafficking may be ongoing or new information may revealed to the National Hotline over time. Consequen...Read More
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