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.
Authors: Ella Cockbain & Helen Brayley-Morris Abstract Human trafficking and modern slavery are routinely framed as key threats facing society. Despite increased media, policy, and practitioner attention the evidence base remains underdeveloped...Read More
Global businesses are faced with an increasingly complex and interconnected legal, financial and reputation risk agenda related to involvement in human rights and other responsible business conduct risks like conflict financing, financial crime, m...Read More
In the present report, the Working Group on the issue of human rights and transnational corporations and other business enterprises takes stock of business and government action to advance the implementation of corporate human rights due diligence as...Read More
Despite increased awareness and massive investments in combating human trafficking, there is still limited knowledge about traffickers – who they are, why they engage in trafficking, and how they operate. This Special Issue of Anti-Traffic...Read More
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