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.
Switzerland likes to be the exception. Unfortunately, this is also the case when it comes to the direct application of the Council of Europe Anti-Trafficking Convention. Whereas the Convention states clearly that the access to support services must ...Read More
While industrial recycling is squarely situated in the formal sector of the economy, the upstream segments of the recycling supply chain may reach deep into the informal sector, intersecting with the centuries-old occupation of waste picking. In man...Read More
Digital platforms have often been celebrated for allowing equal opportunities for public self-expression, regardless of one’s identity and status. Yet, not everyone is welcome in the cyberspace. The digital arena has become a breeding ground fo...Read More
The CT directory gathers key facts and figures about human trafficking in more than 50 countries. It also contains useful contacts to refer the victim or potential victim according to his/her profile: s/he can be in need of immediate protection, nee...Read More
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