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.
Corruption is an underlying cause of and a facilitating tool for practices arising from contemporary forms of slavery; it is essential to creating the conditions for a low-cost, low-risk, high-profit illicit trade in vulnerable individuals. Yet, cor...Read More
9th edition Since 2006, ICMEC has tallied the presence – and absence – of adequate anti-child sexual abuse material (CSAM) law in 196 countries. They have analyzed the strengths and shortcomings of the laws that do exist, and, based on the re...Read More
Over the past decade, due diligence programmes (DDP) have been developed in the Great Lakes Region to trace the origins of minerals, certify minerals as conflict-free and to improve mining communities’ livelihoods while reducing human rights abuse...Read More
The case studies described in this brief reveal that there are benefits for suppliers to implementing social and environmental improvement programs, including improved workforce productivity, cost savings, and stronger competitiveness. Buyers also b...Read More
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