Australia's Two Modern Slavery Acts

The Australian Government has launched an online register that publishes companies' statements on their compliance with the country's Federal Modern Slavery Act of 2018. The website, which is searchable and available to the public, marks the first government-run website tracking companies' compliance with efforts to eradicate modern slavery. Unlike comparable legislation passed recently in other jurisdictions, including the U.K. Modern Slavery Act of 2015, Australia's Act makes reporting mandatory within six months of a company's fiscal year-end. Although there are no financial penalties for failing to comply with the Act, the Government can "name and shame" companies that do not comply, which stands to generate considerable reputation risk for businesses that fail to act.