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Tag: Human Smuggling

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Combating Human Trafficking with Verafin’s Data-Driven Financial Crime Management Platform

July 5, 2022 by Verafin

Generating an estimated $150 billion per year, human trafficking is one of the most profitable and heinous international crimes. Human trafficking and human smuggling was identified in the AML/CFT National Priorities as one of eight “predicate crimes that generate illicit... 

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Using analytics to uncover and help human trafficking victims

March 21, 2017 by Verafin

“It ought to concern every person, because it is a debasement of our common humanity. It ought to concern every community, because it tears at our social fabric. It ought to concern every business, because it distorts markets. It ought... 

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U.S. Court Case: 9 Banks and 50 Bank Accounts Exploited by Human Trafficking Ring

February 21, 2017 by Denise Hutchings

“Follow the money and you will find the trafficker… Financial investigation plays a crucial role in successful investigation of trafficking in persons.” An outstanding financial investigation which was conducted in the recent prosecution of a U.S. based human trafficking ring... 

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Thousands of Human Trafficking Arrests in the U.S. Plus Recent Money Flow to Human Smuggling Hubs

April 5, 2016 by Denise Hutchings

“Human trafficking is not a problem that law enforcement can tackle alone. It requires the close collaboration with many concerned groups looking at this crime through different lenses.” (Manhattan District Attorney Cyrus Vance Jr.) Manhattan District Attorney Cyrus Vance advocates... 

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12 Red Flags for “Funnel Accounts” Used to Launder Money

February 25, 2015 by Denise Hutchings

Regulatory and law enforcement agencies are cautioning financial institutions about an increased use of illegal funnel accounts to launder proceeds from human smuggling, human trafficking and drug trafficking crimes. In light of the recent attention on this money laundering trend,...