Environmental crime is one of the largest criminal activity sectors in the world. There are many kinds of environmental crimes, including illegal emissions into the air, discharge of substances into water or soil, illegal trade in wildlife or ozone-depleting substances, as well as illegal shipments or rubbish dumping. Human rights violations are increasingly connected to financial crime activity.
Jennifer Hanley-Giersch published her article “The Role of ESG in Global Governance and the Supply Chain” on the ACAMS Today – click here to download the article.
This article will show how initiatives striving for more sustainability and good governance—of which anti-money laundering / combatting the financing of terrorism (AML / CFT) efforts are a part—have evolved and now connect on various levels. The integration of environmental, social and governance (ESG) into AML / CFT programs is an important element of this process and is discussed at greater length; in addition to corporate supply chains and the nexus to trade-based money laundering. Customer due diligence frameworks are fundamental to the discussion on how a sustainable society and economy, based on true ethical standards, can be implemented and enacted globally.