In a constantly changing world, financial institutions must continually adapt to new risk factors. Regional or global crises like war or natural disasters, in particular, can trigger or fuel criminal activity and related risks,1 including MS/HT. Increased vulnerability during crises can expose people to exploitation by criminal actors, often resulting in a rapid increase in traf- ficking and/or exploitation activities. For financial institutions, a crisis-driven increase in MS/HT raises the risk that they will become inadvertently involved in associated criminal activities via the banking services they provide.

A recent example is the war in Ukraine and the resulting ref- ugee flows to safe countries. As of early February 2023, more than 8 million people who fled Ukraine – mostly women and children – have been registered in other European countries.2 Despite their increased risk of falling victim to MS/HT,3 conver- sations between the Finance Against Slavery and Trafficking (FAST) initiative and members of the financial industry suggest that most financial institutions were not prepared to identify and mitigate the related risks in a timely way.

Establishing an Agile Response Process to Crisis and Conflict-related Modern Slavery and Human Trafficking Risks - UNU CPR, 2023 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

Data Collection in the Context of Trafficking in Human Beings and Exploitation in Germany
Publications

The report contains a first evaluation of the KOK data tool with over 700 cases of human trafficking and exploitation entered between January 2020 and the end of June 2021. Compared to the situation report on human trafficking published annually by ...Read More

Assessment Matrix – Legal Checklist on Key Legal Interventions to Prevent Children From Sexual Exploitation in Travel and Tourism
GuidancePublications

This ASSESSMENT MATRIX explains how to measure evidence of national legislative and policy responses to sexual exploitation of children in the context of travel and tourism as identified in the legal checklist. Measurable indicators for each of the ...Read More

Deadly Secrets: How Apparel Brands Cover up Safety Hazards
Publications

For many years the dirty secret of the steadily growing Bangladeshi garment industry has been its underpaid workers, treated as disposable objects. The lowest paid garment workers anywhere in the world, hundreds of them have died in preventable fact...Read More

Forced Labour in the Global Economy
Publications

Edited by Genevieve LeBaron and Neil Howard. This is the second volume of the series Beyond Trafficking and Slavery Short Course. There is a growing and sober awareness among international policymakers and within global civil society that hum...Read More