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FATF Report Highlights Use of SARs to Detect Human Trafficking
By Colby Adams
printSuspicious transaction reports are among the biggest leads for investigators into the money laundering operations of human trafficking and smuggling operations, an intergovernmental group said Wednesday. That's in part because the organizations often use many of the same means to launder dirty money as other crime groups, including exploiting vulnerabilities with cash-intensive businesses, money services businesses (MSBs), cash courier services, shell companies and hawala networks, according to a report by the Paris-based Financial Action Task Force (FATF). Although many financial institutions have increased their efforts to detect accounts linked to the human trafficking and smuggling of some 2.5 million people...
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