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.
Every four seconds, someone is sold into modern slavery somewhere in the world. Every 60 seconds, the criminal industry that supports modern slavery makes more than US$285,000. These statistics, calculated from estimates by the International Labor O...Read More
This report presents a summary of findings from two case studies conducted in Burma on the intersection of labor, environmental, and social risk in the cultivation of bananas and informal logging in northern Burma. These case studies were conducted ...Read More
Currently the world is going through an unprecedented health, social, human and economic crisis due to the pandemic caused by the disease COVID-19, catalogued even as the greatest economic and social challenge facing humanity since the Great Depress...Read More
Over the past decade, due diligence programmes (DDP) have been developed in the Great Lakes Region to trace the origins of minerals, certify minerals as conflict-free and to improve mining communities’ livelihoods while reducing human rights abuse...Read More
2020 © Copyright, RESPECT International. All Rights Reserved. Website Disclaimer | Privacy Policy
