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.
Elaborated by the Committee on Migration, Refugees and Displaced Persons Rapporteur: Mr Vernon COAKER, United Kingdom, Socialists, Democrats and Greens Group Article 4 of the European Convention on Human Rights prohibits human trafficking. Theref...Read More
BankTrack’s Human Rights Benchmark evaluates 50 of the largest private sector commercial banks globally against a set of 14 criteria based on the requirements of the UN Guiding Principles on Business and Human Rights(‘the Guiding Principles’)....Read More
Slavery is a complex phenomenon and a pervasivescar on humanity. The control of another person, theexploitation of their body and labour, and the removalof their rights, is a degradation of all concerned. It isall too easy to see this as a problem o...Read More
The National Human Trafficking Hotline knows that hotels and motels are frequently utilized by traffickers to facilitate forced commercial sex or forced work. In many cases, hotel and motel owners may not be aware of how their businesses are being u...Read More
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