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.
Based on the theme of partnership, this year’s report examines the ways in which governments and other stakeholders have collaborated to advance anti-trafficking priorities and goals, and emphasizes the importance of including a breadth of groups ...Read More
This risk management toolkit has been developed in the context of the EU-funded FLOW-project.1 Its purpose is to give companies a brief overview of what labour exploitation and trafficking are, as well as to demonstrate the risks for businesses, and...Read More
The majority of support is provided before people enter the National Referral Mechanism. The pre-NRM support includes emergency accommodation, addressing primary needs, signposting to a First Responder, formal referral to the NRM, referrals to healt...Read More
This September 2019 report offers an extensive analysis of the corporate controlled audit industry, connecting the dots between the most well known business-driven social compliance initiatives, such as Social Accountability International, WRAP, the...Read More
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