News

U.S. financial institutions submitted fewer than 50 reports on transactions involving suspected human traffickers over a three-month period last year, a low figure that analysts said underscores the difficulties of identifying the crime. Publicly available data from the U.S. Treasury Department's Financial Crimes Enforcement Network, or FinCEN, indicates that from August through October, banks in the United States filed a total of 21 suspicious activity reports marked for human trafficking, while money services businesses, or MSBs, filed 24. Suspected human-smuggling operations triggered 144 SARs from MSBs during the same timeframe and only eight SARs from banks. Trafficking and smuggling persons...