In 2020, we wrote about the increased regulatory attention on financial institutions’ obligations to detect and respond to human trafficking. In 2021, we wrote about how anti-human trafficking programs fit squarely in banks’...more
12/15/2022
/ Anti-Money Laundering ,
Banking Sector ,
Banks ,
Civil Liability ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Financial Institutions ,
FinCEN ,
Human Rights ,
Human Trafficking ,
NYDFS ,
Popular ,
RICO ,
Risk Management ,
Sex Trafficking
On October 15, 2020, the Financial Crimes Enforcement Network of the U.S. Department of Treasury (FinCEN) released its Supplemental Advisory on Identifying and Reporting Human Trafficking and Related Activity (Supplemental...more
Anti-Money Laundering and Know Your Customer departments at financial institutions are on the front lines of human trafficking. Not only does enhanced transaction monitoring help law enforcement identify trafficking...more
1/14/2020
/ Anti-Money Laundering ,
Bank Secrecy Act ,
BSA/AML ,
Criminal Liability ,
Financial Institutions ,
FinCEN ,
Know Your Customers ,
Risk Assessment ,
Risk Management ,
Supply Chain ,
Suspicious Activity Reports (SARs)