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.
The data in this report represents signals and cases from January 1, 2019 through December 31, 2019 and is accurate as of July 30, 2020. Cases of trafficking may be ongoing or new information may revealed to the National Hotline over time. Consequen...Read More
The Accord on Fire and Building Safety in Bangladesh (the Accord) was signed on 15 May 2013. It is an independent, legally binding agreement between global brands and retailers and trade unions designed to build a safe and healthy Bangladeshi Ready M...Read More
The paper presents the findings of a study on external policy measures adopted by the European Union and like-minded partners to address modern slavery in third countries. The study is intended to support the European Parliament in monitoring E...Read More
The Council of Europe’s Group of Experts on Action Against Human Trafficking (GRETA) has published its second evaluation report on the implementation of the Council of Europe Anti-trafficking Convention by Belarus. The report assesses progress i...Read More
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