CSR: Combating Human Trafficking And Associated Financial Crimes
Human trafficking and other financial crimes have a devastating impact on individuals and communities around the world. Every year, an estimated $2.4 trillion in proceeds from this and other causes of human misery such as forced prostitution, terrorism and drug trafficking are laundered through the world’s financial markets and banking systems. An independent research conducted by Thomson Reuters has revealed that 47% of the 2,300 organisations it surveyed have been a victim of at least one type of financial crime in the last 12 months.
The high level of incidence indicates that financial crime is now a depressingly common practice. Public-private cooperation is key to the identification and implementation of innovative strategies that address this challenge and safeguard the integrity of the global financial system.
Rani’s Voice, a global social enterprise focused on human trafficking prevention, has joined forces with Thomson Reuters in a public-private coalition, to help step-up the fight against financial crime and modern slavery.
The objective of this coalition is to mobilise and influence decisions-makers at the highest levels to improve awareness of the extent of financial crime and modern slavery, promote more effective information sharing, and establish enhanced processes to share best practice. The inclusion of Rani’s Voice in the coalition gives a voice to the millions of enslaved people throughout the world, drawing attention to their suffering, and highlighting the importance of finding new ways to secure their freedom.
Rani’s Voice is led by Rani Hong, who at the age of seven was stolen from her family and sold into slavery. As a survivor of child slavery, Rani has dedicated her life to speaking for those without a voice, becoming one of the foremost advocates for combating the crime of human trafficking.
“Increased collaboration is key to fighting financial crime and Rani’s passion and expertise will be invaluable as we work to bring forward innovative, high-impact solutions that help disrupt and dismantle the criminal networks that cause incalculable harm around the world,” said Phil Cotter, Managing Director, Risk, Thomson Reuters.
Thank you for reading the story until the very end. We appreciate the time you have given us. In addition, your thoughts and inputs will genuinely make a difference to us. Please do drop in a line and help us do better.
Regards,
The CSR Journal Team
