If I get my products from my vendor, why do I need to implement Know Your Business (KYB) or Third-Party Risk Management (TPRM)?
Perhaps Compliance Week has a good answer:
“About 27.6 million people around the globe are ensnared by modern slavery, which refers to people being forced to work and losing their freedom due to imprisonment, threats of violence, debt bondage, or retention of their identity papers, according to the United Nations’ International Labor Organization.”
Yeah, but who cares about Third World countries?
Tell that to the former owners of OneTaste:
“As proven at trial, between 2006 and May 2018, [Nicole] Daedone and [Rachel] Cherwitz obtained the labor and services of multiple young women who had turned to OneTaste for healing and spirituality by coercing them to perform labor, including sexual labor, for the defendants’ benefit.”
Would you want to do business with THAT company?
Although it has undergone an ownership and name change:
“n 2017, Ms. Daedone sold OneTaste for $12 million, prosecutors said. The former OneTaste.us website now directs visitors to The Eros Platform, a community that still promotes it affiliation with Daedone, Cherwitz and and their Orgasmic Meditation practice. The Eros Coaching Collective still advertises a three-session OM training package for $525.”
Bredemarket 