Financial Services and Modern Slavery: Practical responses to managing risks to people, is a guide to help the financial services industry respond effectively to the Modern Slavery Act 2018 (Cth). The Act requires certain large companies to report annually on their efforts to address risks of modern slavery in their global operations and supply chains.
The guide is the second of a suite of sector-specific guides prepared as part of a joint collaboration between the Australian Human Rights Commission and KPMG Australia.
The guide showcases examples of current practice from the sector and provides good practice guidance, including:
- highlighting particular modern slavery risks prevalent in the financial services sector, including in banking, insurance, investment and asset management
- providing tips for the financial services sector on leading practice and a rights-based approach to managing modern slavery risk
- fostering transparent modern slavery reporting for the benefit of business, government and the people at risk of harm.
You can also read the Australian Human Rights Commission and KPMG Australia’s guide for the Property and Construction sector here. A series of guides for other high-risk sectors are currently in development.