Finance Against Trafficking: the economic fight to end human trafficking
The Civil Society Organization STOP THE TRAFFIK launched in London a new initiative to address the economic fight against human trafficking. Finance Against Trafficking aims to bring together different stakeholders against human trafficking to develop practical tools that will prevent human traffickers from benefiting through the financial system. The initiative will also promote best practices while raising awareness about human trafficking in the private sector.
Finance Against Trafficking was launched in London's City Hall by Steve Chalke, UN Special Advisor and STOP THE TRAFFIK founder. During the event Sandra Kozeschnik from UN.GIFT addressed participants from businesses, financial institutions, enforcement agencies, government and international bodies on the role that all can play in dealing with human trafficking. "Human Trafficking is about money. If there was no money in trafficking, there would not be any victims nor traffickers. The money gained, is laundered, saved, transferred, exchanged, and invested often using legal financial services. ", she said.
The initiative will explore the use of red flag indicators that will aid businesses in identifying and disrupting proceeds of human trafficking. It will also work on developing an international corporate disclosure tool to assist in identifying and preventing risks to businesses' reputations and supply chains.
"Human trafficking is a trade - it is also a crime. The business sector, and its stakeholders, is in a position to affect both. Awareness raising is just the start. Changes in funding and investment principles, organizational culture and behaviour, and in strategic and operational decisions, must occur. Can organisations afford to ignore this crime any longer?" Sara Dixon, co-chair, Finance Against Trafficking.
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