HOW DOES YOUR BUSINESS IMPACT THE WAR CRIME Funding?
NOT WORRIED?
Contrary to a popular belief, it is much easier to find oneself in a compromising situation, potentially implicated in complicity in war crimes and crimes against humanity.
For instance, by providing goods or services to regimes or armed groups committing atrocities, or through taxes and protection payments, businesses can be accused of complicity. Besides, natural resources exploitation in unstable regions can fuel conflicts and contribute to human rights violations.
These risks highlight the importance of rigorous due diligence and awareness of the broader consequences of business activities in conflict-prone areas.
The situation emphasizes the importance of conducting thorough risk evaluations, particularly in areas with heightened geopolitical instability, to mitigate these potential legal and ethical liabilities.
AND YET!
There are multiple risks related to payment traffic and they can lead to serious consequences for businesses. The main risks associated with financial crimes, such as fraud or money laundering, are generally well covered by financial institutions.
However, the risks of involvement in war crimes or crimes against humanity are much more difficult to anticipate in a rapidly changing world and an unstable geopolitical situation.
Faced with these risks and uncertainties, several questions arise:
– Are you able to attest with sufficient certainty that the documents provided to you by foreign organizations or administrations are authentic and legitimate?
– Are you certain that your compliance team is able to respond to these risks although they are unable to audit the structures of your co-contractors anywhere in the world?
– Even if you rely on your banking partners, the question is whether they are actually qualified to support you with this very specific issue.
PWC, EY, KPMG, McKinsey…
WHAT DO WE HAVE IN COMMON? CONSULTANCY.
OUR DIFFERENCE?
WE TAILOR SOLUTIONS TO CHALLENGES THAT OTHERS AVOID.
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