Human trafficking is one of the fastest growing criminal activities in the world, exploiting over 45 million people and generating an estimated $150 billion in profits each year. While global in reach, human trafficking also affects individuals, communities and economies across the United States. Through the use of force, fraud and coercion, traffickers compel victims of all genders, ages and nationalities into situations of labor and sexual exploitation. The basics of supply and demand economics provide one lens through which to understand this criminal enterprise. More often than not, money is the fuel that incentivizes traffickers and fuels the operations of trafficking networks. Financial institutions have a critical role to play to identify and disrupt human trafficking.
This session will discuss what financial institutions and BSA professionals can do to help identify, flag and prevent human trafficking.
Target Audience: Anyone invoved in the BSA/AML program in your institution