Endorsement for United States Banks Alliance Toolkit for Tackling Human Trafficking

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

This toolkit builds on previous work and aligns to the European Bankers Alliance toolkit that the Group endorsed in 2017.

The Group remains concerned about the continuous growth of human trafficking across regions and the potential abuse of the financial system associated with this criminal activity. We would therefore emphasise the value of this region focussed USBA Toolkit, which includes a set of "red flag" indicators tailored specifically to 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 Group also notes the importance of collaboration and information sharing between public and private sectors to develop this work. We strongly believe that the significance of information-sharing and collaboration between the public and private sectors is a critical enabler in the fight against financial crime.

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

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