The Modern Day Slavery Act 2015, the first of its kind in Europe, received Royal Assent on 26 March 2015. The act consolidates slavery and trafficking offenses and introduces tougher penalties and sentencing rules. It ensures that the main offences are subject to the toughest asset recovery regime under the Proceeds of Crime Act 2002, introduces bespoke slavery and trafficking compensation orders, and provides for the confiscation of vehicles, ships and aircraft used for the purposes of trafficking.
From today organisations with a turnover of £36 million or more are required to produce and publish a slavery and human trafficking statement each financial year under the Transparency in Supply Chains clause.
Our research shows that many organisations are not currently in a position to demonstrate that they are resdy to address this issue. 72% of supply chain professionals admit having no visibility of their supply chains below the second tier, and 11% business leaders think slavery is already playing a role in their supply chains.
CIPS has developed guidance and tools to enable organisations to tackle this head-on including a sample code of conduct, action plans, screening tools and questions to ask during an audit.