Every four seconds, someone is sold into modern slavery somewhere in the world. Every 60 seconds, the criminal industry that supports modern slavery makes more than US$285,000. These statistics, calculated from estimates by the International Labor Organization (ILO), reveal the size and international scope of modern slavery and trafficking, a system that treats human beings as a commodity. These crimes happen in urban metropolises and in remote rural areas, in developing and developed nations. Modern slavery touches nearly every supply chain and no industry is exempt. The sums of money involved are so high, this lucrative and globally pervasive industry is one of the fastest-growing criminal enterprises and sits behind the drug trade as the most profitable organised crime. Per the United Nations, profits from modern slavery and human trafficking are estimated to be as high as US$150 billion a year. This sum is generated through the slavery; abuse and exploitation of an estimated 45.8 million people. A crime that relies heavily on access to financial institutions, a wide range of organisations are not only destinations for slavery and trafficking proceeds, but also conduits to financing every step of the slavery and trafficking journey. Recognizing their central importance to slavery and trafficking operations, financial institutions are seeking ways to strike back. Stopping the arterial flow of money will cause the beast of modern-day slavery to atrophy and shrink, although no one is under the illusion that it can ever disappear completely. That reality must not and should not lessen our efforts to staunch the sustenance (money) that feeds the beast.

Modern Slavery: A Resource Guide for The Banking Industry, 2016 DOWNLOAD

post

page

attachment

revision

nav_menu_item

custom_css

customize_changeset

oembed_cache

user_request

wp_block

acf-field-group

acf-field

ai1ec_event

A Broken Partnership: How Clothing Brands Exploit Suppliers and Harm Workers – And What Can Be Done About It
GuidancePublications

The Center’s report includes a series of practical recommendations for how clothing brands and retailers can establish more constructive relationships with outsourced suppliers, with the goal of protecting the human rights and economic well-being ...Read More

TAGS:
FTSE 100: At the Starting Line – An analysis of company statements under the UK Modern Slavery Act
Publications

Analysis shows only a handful of company statements are meeting the Act’s requirements, majority lack adequate information. The FTSE 100 companies who have reported under the Modern Slavery Act so far were scored by the Business & Human Righ...Read More

Emerging Patterns in the use of Technology for Labour Trafficking in Southeast Asia
Publications

This report was originally conceived to be an exploratory analysis of case data on trafficking and exploitation in Southeast Asia that begins online, trying to understand if recruitment is occurring via social media, messaging apps and websites and,...Read More

TAGS:
The Role of Recruitment Fees and Abusive and Fraudulent Recruitment Practices of Recruitment Agencies in Trafficking in Persons
Publications

The purpose of the paper is to examine the relationship between recruitment fees and other abusive and fraudulent practices of recruitment agencies and trafficking in persons, with a particular focus on criminal justice measures to address this relat...Read More