A pair of U.S. senators introduced legislation Wednesday aimed at strengthening and expanding the role of financial institutions in fighting human trafficking.
U.S. investigators are asking some of the nation's largest banks to tighten their policies on accepting cash deposits in an effort to choke off the financial channels of human smugglers.
State and federal measures designed to combat international human trafficking and child labor will obligate financial institutions to apply tougher due diligence standards to corporate accounts, a federal judge said Monday.
Suspicious 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.
More than a dozen governments are working with the Financial Action Task Force to draft guidance on how to identify financial transactions tied to human trafficking, say individuals familiar with the matter.
A new U.S. Justice Department initiative to combat human trafficking has caught the attention of federal bank examiners, who are asking banks about transactions tied to the crime.
FinCEN reminds financial institutions to proceed with caution when dealing with Tunisian bank accounts, the Southern District Court of New York files money laundering charges against a perfume dealer, and more, in this week's roundup.
Some of the country's largest banks are increasingly monitoring account activity for signs of possible human trafficking, according to individuals familiar with the initiatives.
Western Union will pay $94 million to resolve claims by the Arizona Attorney General's office that the company wasn't doing enough to combat Mexican money launderers and human traffickers.
Human trafficking profits are estimated to be between 10 and 40 billion dollars annually, but few people are taking the time to root out the related money laundering transactions, Dr. Louise Shelley told reporter Larissa Bernardes.
The Trafficking Victims Protection Reauthorization Act, which became law on January 10, added human trafficking to the list of "specified unlawful activities" under the U.S. money laundering law.