Tag: Human Trafficking

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Funnel Accounts

April 10, 2024 by Verafin

Funnel accounts continue to thrive as criminal organizations leverage the tactic to exploit the U.S. banking system and quickly move money across great distances at minimal cost — all while enabling anonymity for the depositors. Used as a method to... 


Human Trafficking: A Humanitarian Crisis

April 2, 2024 by Verafin

“$350 billion dollars from human trafficking. Imagine how many victims had to suffer — sweat, blood, and tears — for $350 billion dollars.”   – Timea Nagy, Human Trafficking Activist & Survivor  Human trafficking is a global humanitarian crisis. At any... 


Increased Use of Virtual Currency in Human Trafficking

March 5, 2024 by Verafin

Criminals will exploit the most vulnerable in society for significant financial gain. According to Nasdaq’s Global Financial Crime Report, in 2023, $346.7B of illicit funds was linked to human trafficking activity – although this number is likely only a fraction... 


Turning the Tide: Expert Insights on $3.1T in Financial Crime

February 23, 2024 by Verafin

Focusing on striking revelations from the recently released Nasdaq 2024 Global Financial Crime Report, Verafin hosted an expert panel presentation on the implications of over $3.1 trillion in illicit money that flowed through the financial system in 2023.  This special... 


A $3.1 Trillion Financial Crime Epidemic

February 5, 2024 by Verafin

Historically, quantifying the scale of financial crime has been a major challenge. In a new 2024 Global Financial Crime Report, Nasdaq and Verafin have brought together expert research and data, industry perspectives, and the voices of survivors to provide insights... 


A Broken Promise: Forced Labor Trafficking

January 15, 2024 by Verafin

Everyone wants the opportunity for a better life. However, some people are limited by conditions beyond their control – from ongoing conflict to economic uncertainty – making them vulnerable to exploitation. According to the U.S. Department of State, approximately 21.2... 


Stolen Lives – International Sex Trafficking

January 10, 2024 by Verafin

Human trafficking is financially motivated. Described as a “crime that involves other crimes,” human trafficking is typically connected to illicit money flow, corruption, document fraud, trafficking in illicit goods, cybercrime and terrorism. Sexual exploitation remains the most common motive for... 


National Human Trafficking Prevention Month

January 10, 2024 by Timea Nagy

Today, as you read this, millions of people around the world are trapped in the harsh reality of human trafficking. From young children to adults of any age and gender, there are vulnerable people in your community, city, and country who... 


Hidden in Plain Sight: Domestic Sex Trafficking

January 3, 2024 by Verafin

Human trafficking can occur anywhere – the reality of domestic sex trafficking is that it is closer than you think. Victims of domestic sex trafficking are individuals targeted within their own neighborhoods, cities, towns, or country. While numbers are massively... 


A Ruthless Scam

September 26, 2023 by Verafin

A prominent virtual currency investment scam, with the demeaning label “pig butchering,” is creating significant financial and emotional harm for countless victims around the world – criminals defrauded victims of more than $2 billion USD in 2022. Known as financial...