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.
Uzbekistan’s 2018 cotton harvest, which concluded in all regions of the country in the last week of November, showcased the enormous challenges in uprooting the country’s deeply entrenched forced labour system. Driven by a commitment to reform a...Read More
The thousands of migrant workers from Burma, Cambodia, and Laos who cross the border into Thailand each year trade near-certain poverty at home for the possibility of relative prosperity abroad. While most of these bids for a better life do not end ...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
The information and communications technology sector(ICT) is at high risk of forced labour. A significant number ofworkers in electronics supply chains are migrant workers who are particularly vulnerable to exploitation. The US Department of LabourÂ...Read More
2025 © Copyright, RESPECT International. All Rights Reserved. Website Disclaimer | Privacy Policy
