Guideline : Detecting financial flows of modern slavery and human trafficking

Modern Slavery and Human Trafficking indicators are often not applicable to the more conventional transaction monitoring systems used by financial institutions to filter out suspicious transactions.

Transactions linked to modernslavery and humantrafficking may therefore not be recognized by anti-money laundering software and may not be analysed by a compliance officer.

A different approach is needed.

A new publication developed by FAST, authored by Dr. Frank A. Haberstroh and Simon Zaugg, provides clear and comprehensive guidance to help financial institutions in the banking sector detect and monitor illicit flows from modern slavery and human trafficking based on automated transaction monitoring.

Tested by partner financial institutions, the indicators outlined in the guideline will help the financial sector address the growing incidence of these crimes – and contribute to the attainment of SDG8.