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

wp_template

wp_template_part

wp_global_styles

wp_navigation

wp_font_family

wp_font_face

acf-taxonomy

acf-post-type

acf-field-group

acf-field

ai1ec_event

exactmetrics_note

Online sexual exploitation of children in the Philippines: A scoping review
Publications

Online Sexual Exploitation of Children (OSEC) is a rising form of child abuse in the Philippines with significant social, health and wellbeing consequences for survivors. In response, this scoping review was undertaken to advance understanding of th...Read More

TAGS:
The Global Slavery Index 2018
Publications

Executive Summary Depriving someone of their freedom is a terrible violation. Modern slavery is a destructive, personal crime and an abuse of human rights. It is a widespread and profitable criminal industry but despite this it is largely invisible, ...Read More

TAGS: Global
Covid-19 and potential implications on human trafficking and other forms of modern slavery internationally
Publications

COVID-19 is a global pandemic affecting every country in the world. Similarly, modern slavery is a global threat that affects every country in the world. This briefing aims to highlight some of the global concerns and increased potential threats aro...Read More

Recruitment fees and related costs: What migrant workers from Cambodia, the Lao People’s Democratic Republic, and Myanmar pay to work in Thailand
Publications

Thailand has a long history of labour migration, initially as a country of origin, and more recently as a destination country. Today, Thailand is host to the largest number of migrant workers of all ASEAN member states, with approximately 2.8 millio...Read More