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.
This report was prepared by Dr. Lisa Rende Taylor and Ohnmar Ei Ei Chaw, Issara Institute. Issara Institute programming in Myanmar and Thailand over the past year has focused on driving more ethical recruitment systems, down to the ‘first mileâ...Read More
Abstract Objectives The article objectives were (1) to systematically map the contours of the European evidence base on labour trafficking, identifying its key characteristics, coverage, gaps, strengths and weaknesses and (2) to synthesise key scie...Read More
However, business leaders need to collaborate in order to do this. My recommendations focus on the need to develop relevant risk management processes and the need to create better systems to share intelligence. I also strongly encourage growing coll...Read More
Research conducted by Labour Rights Promotion Network (LPN) and Johns Hopkins Bloomberg School (JHSPH) of Public Health Center for Refugee and Disaster Response, and supported by the United Nations Inter-Agency Project on Human Trafficking (UNIAP). ...Read More
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