Is your supply chain truly free from any form of modern day slavery?
Unscrupulous labor practices can take many forms, including deceiving workers over conditions of employment, charging employees unreasonable recruitment fees and confiscating or otherwise denying access to identity documents such as passports and travel passes.
Most recently, instances of forced and bonded labor have been found in the seafood industry in Thailand, the electronics sector in Malaysia, and the recruitment of construction workers in Qatar. While the violations were found deep in the supplier web (often the supplier’s supplier), the reputational damage often affects the sourcing organization.
Certain industries and products are more exposed to forced and bonded labor violations. In 2014, the U.S. Bureau of International Labor Affairs (ILAB) identified 138 products in 74 countries prone to modern day slavery. Multinational corporations should identify where their goods and services are dependent on these vulnerable links in their supply chain and ensure that adequate measures are in place to safeguard the organization.
Read our whitepaper to understand what forms of modern day slavery exist, which countries and industries are the most vulnerable and how you can structure your due diligence process accordingly.
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EXPERT TALK: How the modern day slavery act has an impact on regulated financial services firms
The UK’s Modern Slavery Act 2015 received Royal Assent on March 26, 2015. The act is one of a number of recent laws requiring businesses to report on human rights. The principal purpose of the act is to consolidate existing legislation containing criminal offenses relating to slavery (including human trafficking, forced labor and other forms of exploitation) into a single statute designed to provide law enforcement agencies with stronger tools to tackle modern slavery and enhance protection for victims.
REUTERS NEWS: Exclusive - U.S. upgrades Malaysia in annual human trafficking report - sources
The United States is upgrading Malaysia from the lowest tier on its list of worst human trafficking centers, U.S. sources said on July 8, 2015, a move that could smooth the way for an ambitious U.S.-led free-trade deal with the Southeast Asian nation and 11 other countries.