This FinCrime Threat Intelligence Report aims to help financial institutions better understand the transactional profiles that could indicate a ‘Human Trafficking for Labour Exploitation’ (HTLE) risk
By understanding the behaviours of victims involved in ‘Human Trafficking for Labour Exploitation’, the industry can better detect and disrupt this type of criminal activity
Complimentary Report:Human Trafficking for Labour Exploitation
The report focusses on one modus operandi of HTLE whereby a sophisticated Organised Criminal Group traffics victims from abroad, puts them into legitimate work and controls the bank accounts where they are paid, which then act as financial funnels to the perpetrators.
This type of trafficking can take place at a massive scale, happen right before our eyes and take place in industries we all benefit directly from, like the food supply chain.
The Lite Report covers the scale of the problem, the relevance to financial institutions, the HTLE typology definition, actor profiles and insights into the modus operandi using the Network of Victim Funnel Accounts approach, we articulate how a sophisticated organised crime group (OCG) traffics victims from abroad, puts them into legitimate work and controls the bank accounts where they’re paid.
The full report is available upon request and examines a real-life case study in the UK called Operation Fort, detailing the nuances a bank needs to be aware of to identify evidence of HTLE in their transactions. The full report provides greater granular detail into the recruitment process networks use, and the full process such networks use to set-up and exploit victims, along with the account strategies deployed. This is demonstrated using a real-life case study in the UK called Operation Fort, and details the nuances a bank needs to be aware of to identify evidence of HTLE in their transactions.
If you would like the full in-depth version of this report, register your interest below
Covid-19 will undoubtedly have a huge impact on this typology; on the one hand it has made travel more difficult in 2020 and 2021 but on the other hand, there is less face to face interaction, which allows the perpetrators to potentially stay hidden for longer and this could be a long term impact. Additionally, Brexit will have an effect on the profile of the victims and perpetrators as it will change who can get into the country and how, but it could also create a demand for low-skilled workers which criminal gangs will look to pounce upon.
We will continue to research how human trafficking is impacting financial institutions and will publish further reports to our subscribers.
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