On 2nd August, FATF published a new FATF and Asia/Pacific Group on Money Laundering (APG) report which aims to raise awareness about the type of financial information that can identify human trafficking for sexual exploitation or forced labour and to raise awareness about the potential for profit-generation from organ trafficking.  The report also highlights potential links between human trafficking and terrorist financing.  The report says that, as human trafficking can happen in any country, it is important that countries assess how they are at risk of human trafficking and the laundering of the proceeds of this crime, share this information with stakeholders and make sure that it is understood.  Countries should also build partnerships between public sector, private sector, civil society and non-profit communities to leverage expertise, capabilities and partnership. The private sector, and financial institutions in particular, are on the frontline.  Non-profit organisations also play a crucial role in tackling human trafficking and the financial flows that derive from it.  It includes case studies, indicators of laundering the proceeds of human trafficking, and recommended national actions to consider to ensure an effective system in combatting money laundering/terrorist financing from human trafficking.



Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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