Human Trafficking and Banking: Featured in ACAMS Today Magazine
Making an Impact in Human Trafficking and Banking
The first step in being able to identify and disrupt human trafficking—from a financial institution’s perspective—is awareness
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Is your financial institution set up to join the fight against human trafficking?
Counter-human trafficking activities should also be built into an institution’s customer due diligence policies and procedures. Asking the right questions, knowing what to look for, and thinking holistically about known patterns and indicators of human trafficking all play a part in customer due diligence. Bank Secrecy Act/anti-money laundering software automation can also be a significant factor in the ability to flag potentially suspicious transactions based on rules, behaviors and/or typologies related to human trafficking. Learn how BAM+, AML software, can help.