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 provides a cross-system view of how the criminal justice system reacted in the immediate aftermath of the first national Covid-19 lockdown (23 March to 10 May 2020), and of how the system has managed since. The cumulative impact on th...Read More
There are over 40 million people in modern slavery worldwide. Modern slavery exists in every industry, in every country in the world. The financial services industry has a major role to play in combating this violent and abusive business. And yet th...Read More
Analysis shows only a handful of company statements are meeting the Act’s requirements, majority lack adequate information. The FTSE 100 companies who have reported under the Modern Slavery Act so far were scored by the Business & Human Righ...Read More
Illegal, unregulated and unreported (IUU) fishing undermines the responsible management of commercial fishing and ocean conservation. It exploits the natural resources of coastal nations, reduces economic opportunity and threatens food security. IUU...Read More
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