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 an assessment of the UK-wide Modern Slavery Helpline’s operations in 2019 detailing the number, type and nature of calls, webforms and app submissions received between 1 January 2019 and 31 December 2019 and the number and dem...Read More
The vast majority of deforestation and illegal logging takes place in the tropical forests of the Amazon basin, Central Africa and Southeast Asia. Recent studies into the extent of illegal log- ging estimate that illegal logging accounts for 50–90...Read More
This briefing paper by Liberty Shared sets out recent improvements to the transparency of supply chains and analysis techniques and resources being increasingly applied by civil society to identify where exploitative activities exist in a supply chai...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
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