FinCEN issued an analysis finding an increase in Bank Secrecy Act reports about the use of convertible virtual currency for online child sexual exploitation and human trafficking.
Browsing: Human trafficking
The alert provides trends, typologies and red-flag indicators for banks to identify and report suspicious transactions.
The rule updates the Fair Credit Reporting Act’s implementing regulation to ensure it meets DBRA’s credit reporting requirements and that survivors’ credit information is reported fairly.
ABA today wrote to the CFPB in response to a recent proposal to implement a section of the 2022 National Defense Authorization Act, which made changes to the Fair Credit Reporting Act prohibiting consumer reporting agencies from furnishing a consumer report containing any adverse item of information concerning a consumer that resulted from a severe form of trafficking in persons or sex trafficking. i
The Treasury and State Departments today issued a report analyzing efforts to prevent human trafficking and highlighting the role that banks and other financial institutions play in these efforts.
Recognizing the crucial role banks can play in combating human trafficking and human smuggling, ABA yesterday launched a new online course on ways bankers can spot the signs of illicit financial activity associated with these crimes.