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PROGRAM MISSION

It is estimated that USD$150 billion (ILO, 2014) is generated as the proceeds from slavery; a significant proportion of this may find its way into the banking system, directly or indirectly, co-mingled with genuine funds.

Our Actionable Research Programmes work with NGO partners, and information service providers, to research and make available information on those identified as benefitting financially from slavery, to the financial service sector, to help them make better business decisions, under Anti-Money Laundering (“AML”) and Anti-Bribery & Corruption (“ABC”) regulatory requirements.

Impact

Submissions to global financial databases - August 2015 to August 2017

(updated monthly)

Media

20

countries covered

NGO Partners

28

NGOs contributing to program

Traffickers

6,737

names submitted for profiling

Financial Institutions

8,360

financial institutions screening for name matches on profiled traffickers

Non-Financial Institutions

2,830

non-financial institutions screening for name matches on profiled traffickers

Program Activities

  • Liberty Asia works closely with its NGO partners to facilitate the flow of information on slavery from local cases and media through to information and due diligence specialist providers, notably Thomson Reuters WorldCheck, used by many of the world’s largest financial institutions in their client due diligence (“CDD”) and know your customer (“KYC”) procedures.
  • Liberty Asia has also produced a list of adverse media keywords on human trafficking and forced labour. Financial institutions and their advisors and consultants are strongly encouraged to use these keywords in adverse media screening for clients and transactions. The list is available from info@libertyasia.org
 

What's next ?

Liberty Asia is continuously working on a number of research projects in different industries and geographies, with our NGO partners. Regular updates are provided on a confidential basis to a limited group of financial services compliance professionals.

Interested parties may contact info@libertyasia.org.

Resources

The Financial Action Task Force (“FATF”) has outlined the money laundering risks from trafficking in human beings - financial services compliance professionals, and those that advise or support them, can find out more information from the following resources:

Money Laundering Risks Arising from Trafficking of Human Beings and Smuggling of Migrants (FATF, July 2011)

Guidance on Recognizing Activity that May be Associated with Human Smuggling and Human Trafficking – Financial Red Flags (FinCen, 2014)  

Human Trafficking, Customer and Financial Transaction Traits That May Present Risk (OSCE, 2014)
 

Global Slavery Index (Walk Free Foundation, 2016) - bi-annual country ranking of 167 countries
 
List of Goods Produced by Child Labor or Forced Labor (US Department of Labour, 2014)