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 COVID-19 pandemic has affected countries and people globally; it has also exacerbated existing disadvantages, poverty and vulnerabilities. The initial measures to contain the health crisis have not always considered those most vulnerable and aff...Read More
The climate emergency poses a huge threat to human rights. In order to address the climate crisis, a transition to an economy respectful of the planet is urgently required. As part of this green transition, moving away from fossil energy sources, to...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
by Joanne O’Donnell In today’s global economy, multinationals face an increasingly complex and evolving legal environment, requiring their compliance functions to constantly adapt. As tackling modern slavery and illegal trafficking is fast becom...Read More
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