Endorsement for European Bankers Alliance Toolkit for Tackling Human Trafficking - July 2017

The Wolfsberg Group (the Group) is pleased to endorse a practical Toolkit designed to tackle human trafficking and modern slavery. The Toolkit has been developed by the European Bankers Alliance, a multi-stakeholder working group established and coordinated by the Thomson Reuters Foundation.

The Wolfsberg Group remains concerned about the continuous growth of human trafficking operations across Europe and potential abuse of the financial system associated with this criminal activity. We would therefore emphasise the value of the Toolkit, which includes a set of "red flag" indicators tailored specifically to European financial institutions, together with case studies and resources that will help the detection, and reporting, of suspicious patterns in financial activity that may be linked to human trafficking. The Group specifically recognises the value of these "red flags", which could be used in assessing findings and staff training.

The Wolfsberg Group also notes that each case study in the Toolkit started from information provided by Law Enforcement, illustrating the importance of information-sharing and collaboration between the public and private sectors.

The Group encourages its members and other financial institutions to put the indicators into practice.  A copy of the Toolkit and further information about the Bankers  Alliance initiative in Europe, the United States and Asia Pacific can be obtained by contacting the Thomson Reuters Foundation at banksalliance@trust.org.

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