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 issue of Vietnamese nationals consistently having some of the highest numbers of referrals into the UK’s National Referral Mechanism (NRM) is increasingly apparent. However, this did not gather nationwide attention until the Essex tragedy of O...Read More
The data in this report represents signals and cases from January 1, 2018 through December 31, 2018 and is accurate as of July 25, 2019. Cases of trafficking may be ongoing or new information may revealed to the National Hotline over time. Consequen...Read More
The report is an industry-focused analysis of the Malaysian palm oil industry with specific insights into the industry’s governance and investment framework, relevant labour laws that apply to migrant workers in the industry and various dispute res...Read More
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