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.
This report offers seven recommendations, such as developing incentives for businesses to thoroughly and continually monitor their supply chains for the use of child labour and forced labour, and to share best practices. It also recommends the Gover...Read More
This report is about sharing topics that draw from the author's personal and professional experiences that they, as a Council, believe are important to effectively address human trafficking today. This report reflects the passion of those with lived...Read More
A LOT CAN CHANGE IN A DECADE. FOR BETTER, AND FOR WORSE. Ten years ago, in the early hours of April 24, 2013, a garment factory in Dhaka, Bangladesh, crumbled. Within its walls were thousands of workers, many of whom never returned home to their ...Read More
Battling Human Trafficking: How Far Have We Come and Where Do We Go From Here? A Scrutiny of Private Sector Obligations under the Modern Slavery Act by Lucia Bird Ruiz-Benitez de Lugo co-published by the Global Initiative against Transnational Or...Read More
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