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In Anti-Human Trafficking Measures, Federal Judge Sees New Duties for Banks
By Colby Adams
printState and federal measures designed to combat international human trafficking and child labor will obligate financial institutions to apply tougher due diligence standards to corporate accounts, a federal judge said Monday. A White House executive order issued in September will require federal contractors to annually certify that they do not exploit trafficked labor. The order also requires contractors and subcontractors whose foreign receipts exceed $500,000 to post a compliance plan on the company's Web site or face contract termination, fines or prison sentences. "There's going to be a requirement to train a whole number of individuals in a setting on...
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