Tagged: human trafficking

FinCEN Issues Human Trafficking Advisory (Part II of II)

Elizabeth Slim, Senior Consultant at The Volkov Law Group, joins us for part II of her postings on the problem of human trafficking and recent guidance issued by FinCEN.  Elizabeth can be reached at eslim@volkovlaw.com. Human traffickers, like all criminals, rely on the international financial system to facilitate their crimes and to disguise proceeds from their illegal activities.  Traffickers open bank accounts to deposit and...

The Scourge of Human Trafficking and Financial Red Flags (Part I of II)

Elizabeth Slim, Senior Consultant at The Volkov Law Group, joins us for a two-part posting on the problem of human trafficking and recent guidance issued by FinCEN.  Elizabeth can be reached at eslim@volkovlaw.com. Human trafficking has become one of the most profitable forms of international crime.  At an estimated $150 billion worldwide per year, it ranks third to drug trafficking and counterfeit goods.  There are...

Human Trafficking and Smuggling – A Compliance Requirement

The problem of human trafficking and smuggling is staggering when you consider the human impact behind the numbers. Human trafficking is a $30 billion industry annually. There are more people in slavery today than at any time in history. One in five victims of human trafficking are children, while in certain regions of Africa and Asia, they comprise a majority of trafficked persons. Women constitute...