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Banks get tools to spot human traffickers moving illicit profits
by Ellen Wulfhorst
Thomson Reuters Foundation Translate This Article
19 July 2018
On 19 July 2018 Thomson Reuters Foundation reported:
A set of sophisticated tools will help financial institutions uncover profits from human trafficking -- estimated at $150 billion per year -- that are moving through their systems, an anti-trafficking coalition said on Thursday (19 July). Tools to detect suspicious transactions will allow companies to more easily spot traffickers using their banking or money-moving services to handle profits, said organizers of United States Banks Alliance. The United States Banks Alliance, which launched the initiative, was put together by the Thomson Reuters Foundation, the charitable arm of Thomson Reuters.
Global Good News service views this news as a sign of rising positivity in the field of business, documenting the growth of life-supporting, evolutionary trends.
It includes American Express , Bank of America , Barclays, Deutsche Bank, PayPal , Western Union, the U.S. Department of Homeland Security's investigations arm, the New York County District Attorney, and the U.S.-based anti-trafficking group Polaris.
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