Despite being banned by law in most of the world slavery still affects roughly 30 million people. Most businesses do not intentionally encourage or practise modern slavery however, many companies with subsidiaries or 3rd parties operating on their behalf, particularly abroad, do run the risk.
The new Modern Slavery Act consolidates many pieces of legislation relating to human trafficking and slavery. Come October this will affect businesses, or rather businesses with a turnover in excess of £36 million, as they will have to publish an annual statement which will state what the company is, or isn’t, doing to prevent slavery. This statement must feature in a prominent place on the company’s website.
A guide on what to include in the statement can be found here but as of yet no set rules have been published by the Secretary of State so it is at the company’s discretion as to how much of these draft guidelines they follow.
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