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.
For decades, workers, unions, students, and labour NGOs have joined together to try to hold global corporations accountable for the labour violations that have routinely taken place in their supply chains. Multi-faceted and often lengthy corporate c...Read More
The COVID-19 crisis has a potentially far-reaching, long-term negative impact on trafficked and exploited persons. Although at this stage it is not yet possible to assess the full impact of the pandemic on human trafficking, it is sure that its soci...Read More
In 2016, a new study, funded by iPoint, was conducted in conjunction with Development International. 1,961 brands were evaluated against their disclosure compliance based on the law’s Risk Verification, Audit, Certification, Internal accountability...Read More
This report warns that global progress to end child labour has stalled for the first time in 20 years. The number of children aged 5 to 17 years in hazardous work – defined as work that is likely to harm their health, safety or morals – has rise...Read More
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