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.
Expo 2020 Dubai could not have taken place without migrant workers who make up more than 90% of private sector employees in the UAE. With more than 40,000 workers employed in the construction process alone. Similarly, the delivery of the Expo requir...Read More
One in every 130 females globally is living in modern slavery. In fact, women and girls account for nearly three quarters (71 per cent) of all victims of modern slavery. Although modern slavery affects everyone, there is no escaping the fact that it...Read More
The U.S. Department of State released its 2021 Trafficking in Persons (TIP) Report – the 21st installment of this annual publication. As required by the Trafficking Victims Protection Act, the TIP Report assesses government efforts around the wo...Read More
This report on modern slavery and financial institutions by the Royal United Services Institute for Defence and Security Studies and the Freedom Fund considers the role that the financial sector can play in reducing human trafficking and modern slave...Read More
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